‘It’s Running Out’: Yellen, Chase Researchers Say Americans May Be Tapped Out

‘It’s Running Out’: Yellen, Chase Researchers Say Americans May Be Tapped Out

"Monetary policy has already done a huge amount," Janet Yellen said Monday, speaking in an interview with Bloomberg Television. After praising the CARES Act and the swiftness of the initial congressional response to the crisis, Yellen warned that "fiscal support has now lapsed." "So far, spending has held up," she continued. "Unemployed workers who got that extra $600/week through the end of July used that to stay current on their bills, to support their spending, they even stashed some of it
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3 thoughts on “‘It’s Running Out’: Yellen, Chase Researchers Say Americans May Be Tapped Out

  1. How could it be otherwise? The developed world economy is driven by the consumer. Monetary and fiscal policy are placeholders until consumers can go back to work. This won’t happen until Covid risk is mitigated. It’s painfully clear that we are a long way from that. An additional 2 trillion would help now, but longer term it’s just another placeholder. A pandemic world is the new normal and survival depends on embracing that.

    1. UBI or Bust, Even people who maintain employment are losing raises, getting furloughed and paying extra for healthcare, childcare, food, etc. Without boosted incomes there can be nothing but decline ahead of us as starry eyed optimism would say we have at least another year of this as we deploy the vaccine… AFTER we have one complete… which we still do not. If we are exceedingly lucky this is over in the US by 2022, even so deploying the vaccine globally could take a few more years. If we get a major mutation then we start the vaccine clock over and need 2 vaccinations. Not to mention the latest on reinfection being possible. Immunity of 3-6 months seems about all you get with the virus so no herd immunity is going to emerge much like the Flu.

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