JEPI - Biden's Economic Challenges

• While the US recession might be technically over, the task of pulling the economy out of the ditch called COVID-19 remains of utmost importance.
• GDP growth in the 3rd quarter leaves the economy about 2.5% smaller through the end of the year.
• October's job report still leaves 11 million jobs behind February's pre-pandemic post.  Many of those jobs employ society's most vulnerable.
• Monetary policy, without an ongoing fiscal component, creates a liquidity trap in a demand-side downturn. Biden's primary task should be to corral the pandemic and fiscally come to the aid of those victimized by the crisis.

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