Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The economic policy, especially, is beridden with political gambits meant to retain power before the midterms, instead of doing what's best for the people. There
The economic policy, especially, is beridden with political gambits meant to retain power before the midterms, instead of doing what's best for the people. There has to be awareness about these issues, and pressure has to be put on politicians to change the direction. Before speaking of recessions to come, I want to talk about a very positively viewed policy in the COVID recession. The high amount of cash distributed through fiscal stimulus during the COVID pandemic helped a quick recovery. The S&P 500, a global benchmark for US securities performance, saw the highest growth ever recorded. Employment jumped back to pre-COVID levels and the economy started growing again. Trump was in office at the time, but this strategy can be mostly attributed to the Federal Reserve President Jerome Powell, the Fed basically being the central bank of the United States. Now for COVID, this policy is not needed anymore. In order to butter up voters, like Trump did with stimulus checks, Biden is putting an irresponsible amount of money towards government spending
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started