Speaking on CNBC
- US shut down around 30% and then opened up too soon
- US lockdown wasn't strict enough
- if we did the right in the spring we would have college football, we would have schools opening
- the virus is raging out of control
- recovery will be muted if no lockdown
- is very important that Congress to continue to provide support
- would need less stimulus if had a lockdown
- Comfortable that the Fed has the the tools within our dual mandate
- fiscal policy has a critical role to play
- the path of the virus will determine the path of the economy
- not sure the Fed can do anything right now
- real unemployment rate close to 14%
There is some truth to his thoughts. What would have happened if there was a plan to really gun toward schools opening or fall football.
PS. Below is a map of where the SEC and ACC fottball conference are located. The games might not have crowds but football is a social event in those states. I don't think people will be holed up watching the games in their homes.
