Covid package will not address all long-standing economic problems

Yellen pivots to Biden’s big infrastructure plan in an interview with MSNBC

Yellen pivots to Biden's big infrastructure plan in an interview with MSNBC
  • This is the package we need to revive our economy to where it was before the pandemic
  • Resources provided by bill will fuel a strong recovery
  • If recovery is inflationary, there are tools for that
  • We’re going to turn to Build Back Better plan next
  • K-shaped recovery existed before covid, now it’s worse
  • Economy could get back to pre-pandemic jobs next year

I think it’s a tactical mistake to pivot immediately to another $2-4 trillion package. Give everyone a month or two to digest the bill and see where things stand.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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