Recession Remedies

The final episode of the Recession Remedies podcast sums up lessons learned from the COVID-19 downturn and looks ahead. How does rising inflation factor in to the assessment of the economic policy response? What lessons should, and should not, be taken from the pandemic to the next economic crisis? Host David Wessel is joined by Wendy Edelberg and Louise Sheiner. The three are senior fellows at Brookings and co-editors of the book “Recession Remedies: Lessons Learned from the U.S. Economic Policy Response to COVID-19.” Show notes and transcript: https://brook.gs/3RA3zvL  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

Data collection has exploded over the last decade. These new sources of nontraditional data—for example, credit card transactions and restaurant reservations—can help to fill gaps in traditional datasets by offering policymakers more timely or granular information. How were nontraditional data used during COVID-19? What are the benefits and potential pitfalls of using it in future crises? On this episode, hear from Laura J. Feiveson, chief of the Household and Business Spending Section in the Board of Governors of the Federal Reserve System’s Division of Research and Statistics.  Dr. Feiveson’s audio comes from an interview recorded in April 2022. Show notes and transcript: https://brook.gs/3RrH3oG  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

To protect against the economic effects of the pandemic, the federal government borrowed more than $5 trillion—about 20% of one year’s output—in 2020 and 2021. Now, in 2022, the Federal Reserve is attempting to tamp down inflation. What lessons should we take from this policy experiment? Could a similar response be repeated in future crises? Recession Remedies podcast Host David Wessel explores the coordination between fiscal and monetary policy with Robin Brooks, managing director and chief economist at the Institute of International Finance, and Jonathan Pingle, managing director and chief U.S. economist at UBS. Show notes and transcript: https://brook.gs/3OOQUTy  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

Economic shocks can have outsized effects on children, interrupting their growth and development. How well did policy buffer households with children from the economic consequences of the COVID-19 downturn? How did changes in areas like childcare, food and nutrition, and health insurance affect children’s well-being? On this episode, host David Wessel is joined by Anna Aizer, professor at Brown University and co-director of the National Bureau of Economic Research Program on Children, and Claudia Persico, assistant professor at American University. Show notes and transcript: https://brook.gs/3yhtJLd  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

The COVID-19 pandemic posed a particular dilemma to state and local governments. The federal government provided close to $1 trillion to state and local governments to help them meet this dilemma—far more than the roughly $275 billion provided during the Great Recession. But something unexpected happened. On this episode, Brookings Senior Fellow Louise Sheiner joins host David Wessel to discuss what the last couple of years can teach us about state and local governments during recessions. Show notes and transcript: https://brook.gs/3HvqzYr  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

The COVID-19 economic policy response helped prevent dire outcomes for renters and homeowners with mortgages during the pandemic. How did the stars align to make forbearance an especially effective policy? What did the pandemic reveal about gaps in the rental assistance safety net? To discuss these questions and more on housing policy during COVID-19, host David Wessel is joined by Laurie S. Goodman, vice president of housing finance policy at the Urban Institute, and Paul Willen, senior economist and policy advisor for research at the Federal Reserve Bank of Boston. Show notes and transcript: https://brook.gs/3xMUTdu  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

The U.S. responded to the COVID-19 recession with massive and unprecedented support for businesses. The business sector overall fared much better than had been expected at the outset. Is this evidence that the business aid had strong economic benefits? Why should policymakers think twice before redeploying the same toolkit during future recessions? Ben Iverson, associate professor of finance at Brigham Young University, and Gabe Chodorow-Reich, associate professor of economics at Harvard University, join host David Wessel to discuss lessons learned about support for businesses. Show notes and transcript: https://brook.gs/3mfdOaB  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

The three rounds of Economic Impact Payments during COVID-19 were by far the largest direct stimulus payments made to American households. They were one of the main policy successes of the pandemic response in providing immediate support directly to households. What effect did these checks have on households and the economy? Should the program be replicated in future recessions—or better targeted? Melvin Stephens Jr., professor and chair of economics at the University of Michigan, and Michael Gelman, assistant professor of economics at Claremont McKenna College, join host David Wessel to discuss lessons learned about stimulus checks. Show notes and transcript: https://brook.gs/3z2wf9S  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

In response to the COVID-19 pandemic, the U.S. government implemented the largest expansion in federal unemployment insurance (UI) benefits in U.S. history. Did expanded UI reach those who needed help? Did it stimulate the economy? And did it disincentivize people from looking for work as the pandemic abated? Fiona Greig, managing director and co-president of the JPMorgan Chase Institute, and Pascal Noel, Neubauer Family Assistant Professor of Finance at the University of Chicago Booth School of Business, join host David Wessel to discuss lessons learned about unemployment insurance. Show notes and transcript: https://brook.gs/3LJtFIC  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

The COVID-19 pandemic posed an extraordinary threat to the economy. In the U.S., the COVID-19 downturn was sharp, but the ensuing economic recovery was faster and stronger than nearly any forecaster anticipated. What was the effect of the economic policy response? Did it come with trade-offs? On the first episode of the Recession Remedies podcast, Jason Furman, Aetna Professor of the Practice of Economic Policy at Harvard University, and Wendy Edelberg, senior fellow and director of The Hamilton Project at Brookings, join host David Wessel for an overview of the economic policy response and the lessons learned for future recessions. Show notes and transcript: https://brook.gs/37E1gpv  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.

Recession Remedies is a podcast about the economic policy response to COVID-19 and the lessons it holds for future recessions. On each episode, expert guests join host David Wessel, director of the Hutchins Center at the Brookings Institution, to evaluate a different aspect of the fiscal and monetary response. Show notes and transcript: https://brook.gs/3F31jYl  Recession Remedies podcast is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, Google, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu, and follow and tweet at @policypodcasts on Twitter.