Fiscal policy advice for Joe Biden and Congress
A co-hosted event by the Hutchins Center on Fiscal & Monetary Policy and the Peterson Institute for International Economics
Past Event
When Joe Biden takes office, he will confront unusually challenging economic circumstances: a persistent pandemic, an economy far short of full employment, and federal debt at historic highs. How much, how soon, and in what form should Congress enact additional fiscal support for the economy? How worried should we be about the high and rising federal debt at a time of low interest rates? What should the new president’s fiscal priorities be?
The Hutchins Center on Fiscal & Monetary Policy at Brookings and the Peterson Institute for International Economics offered answers to these and other fiscal questions from a distinguished set of fiscal policy veterans. Wendy Edelberg of Brookings, Douglas Elmendorf of Harvard, and Michael Strain of American Enterprise Institute discussed near-term fiscal policy. Then former Treasury Secretary Lawrence Summers and Jason Furman of Harvard will present a paper arguing that persistently low interest rates require a rethinking of the framework for fiscal policy. Their presentation was followed by discussion with former Federal Reserve Chair Ben Bernanke, Olivier Blanchard of the Peterson Institute, and Kenneth Rogoff of Harvard.
Viewers submitted questions to events@brookings.edu or on Twitter using #FiscalPolicy.
Agenda
Welcome
David Wessel
Director - The Hutchins Center on Fiscal and Monetary Policy
Senior Fellow - Economic Studies
COVID-19 and the near term
Michael R. Strain
Director and Arthur F. Burns Scholar in Political Economy - Economic Policy Studies, American Enterprise Institute
‘What about the federal debt?’ presentation
Jason Furman
Former Brookings Expert
Aetna Professor of the Practice of Economic Policy - Harvard University
Nonresident Senior Fellow - Peterson Institute for International Economics
Lawrence H. Summers
Charles W. Eliot University Professor and President Emeritus - Harvard University
Session Materials
Discussion
Ben S. Bernanke
Distinguished Senior Fellow - Economic Studies - The Brookings Institution
Olivier Blanchard
C. Fred Bergsten Senior Fellow - Peterson Institute for International Economics
Jason Furman
Former Brookings Expert
Aetna Professor of the Practice of Economic Policy - Harvard University
Nonresident Senior Fellow - Peterson Institute for International Economics
Kenneth Rogoff
Thomas D. Cabot Professor of Public Policy and Professor of Economics - Harvard University
Former Brookings Expert
Lawrence H. Summers
Charles W. Eliot University Professor and President Emeritus - Harvard University
Louise Sheiner
The Robert S. Kerr Senior Fellow - Economic Studies
Policy Director - The Hutchins Center on Fiscal and Monetary Policy
Session Materials
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