George Selgin | Government-Mandated Shutdown: Monetary & Fiscal Policy in Crisis

In Episode 128 of Hidden Forces, Demetri Kofinas speaks with George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute about the recently announced monetary and fiscal policy measures being undertaken to stem the economic fallout from COVID-19 and the government mandated shutdown of the American economy. This is a deep-dive into the specifics of the Federal Reserve and US government's policies, including the mechanics of the monetary and fiscal stimulus. We are living in unprecedented times. The closest analogy to what we are experiencing is the mobilization undertaken to fight World War II with one crucial difference: this is a radical demobilization of the American economy. To fight the virus, Americans are being asked to stay in their homes and move about as little as possible. In order to survive a prolonged period of commercial inactivity governments have moved swiftly to pass monetary and fiscal stimulus measures that are themselves as unprecedented as the current lock-down of the global economy. How far will these measures go and what will Western countries like the United States look like on the other side of this crisis? Answering this question may prove more important than any other we have posed before on this program, and we try to answer it today. You can access the overtime, transcript, and rundown to this week's episode through the Hidden Forces Patreon Page. All subscribers also gain access to our overtime feed, which can be easily added to your favorite podcast application. By becoming a monthly subscriber you are helping to make this podcast possible. Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at http://patreon.com/hiddenforces Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod