A second-quarter 2020 GDP contraction of 32.9%, the steepest since WWII, provided a stark number for what many are already experiencing–the toughest economic times for most Americans in living memory.
COVID-19 will not last forever, nor will the current economic crisis. However, the economy of the future will be different. The pandemic and ensuing economic shock will accelerate trends already underway in the global economy. This is especially true of the digital economy, with the rise of digital behavior such as remote working and learning, telemedicine and delivery services. With the amplification of these trends, the realities of this crisis have triggered reconsideration of several beliefs with possible effects on long-term choices for the economy and society.
History has shown that choices made during crises can shape the world for decades to come. The United States is just a few months away from a presidential election that may have a profound impact on economic policy for the next four years. Given the unprecedented nature of the crisis, the form of the recovery has everyone guessing.
What becomes of the trade war with China, the magnitude of rescue packages and the new debt levels and the impacts on interest rates and federal policy are a few of the complicated issues that will be discussed by three diverse and very experienced panelists, moderated by Richard Bard, our financial series host.
Our virtual programs are graciously sponsored by Alpine Bank. Colorado Humanities and the National Endowment for the Humanities have also provided funding as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act economic stabilization plan of 2020.