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Jul 21 2020

Prodigious Policy!

  • Jul 21, 2020

Of the many extraordinary events that have occurred so far in the contemporary crisis, U.S. economic policy is near the top of the list. Monetary and fiscal authorities have responded to this pandemic faster, and with greater force, than ever. Chart 1 introduces the U.S. Economic Policy Indicator, defined as the excess pace of money-supply growth above economic activity, plus the level of federal-deficit spending as a percent of nominal GDP.

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About The Author

James Paulsen / Chief Investment Strategist