Will President Joe Biden’s $1.9 trillion super-stimulus proposal “overheat” the economy or cure its ailments?: The MUFG Global Markets Podcast

In today’s podcast, MUFG U.S. Rates Strategist, John Herrmann reviews his models arguments over the five economic tailwinds for the U.S. recovery in years 2021 and 2022. Even with a timely rollout of vaccinations, there remains lingering, yet quite pronounced, structural deficiency within the economy. Namely, a labor force that was depleted by nearly 3 million individuals over the entire year of 2020, the largest annual decline in the labor force for any year since 1945, and by a wide margin.

The economy over the near- and longer-term beckons for fiscal policy to remain both activist and aggressive, we believe.

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