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The Unintended Consequences of Stimulus, and a Warning that Permanent Damage is Coming to the Economy
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There is a massive disconnect between stocks and the economy. The S&P 500 and Nasdaq have been resilient even with millions of Americans unemployed, earnings at their lowest levels in years, and no end in sight for the virus. We spoke to Dion Rabouin, Markets Editor at Axios, about why markets have rallied, the dangerous unintended consequences of stimulus, and the racial wealth gap in America. We also spoke with Danielle DiMartino Booth, the CEO and Chief Strategist for Quill Intelligence, a research and analytics firm. DiMartino Booth warned that the pandemic may result in permanent damage to the U.S. economy.
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