What We Learned from the COVID Economy

Colloquy

The US economy is strong. Unemployment is close to a 50-year low, real wages are rising for those at the bottom of the income ladder, and inflation is down though still not entirely in the rearview mirror. You’d never know it from the press coverage, though, which tends to focus on how people feel about the economy, namely that it’s bad and getting worse.

In this episode of Colloquy, we take a step back from perception to look at where we were, where we are, and how we got here. What did the pandemic shocks teach us about government intervention in the economy? What did they show us about inflation and unemployment? And what have economists learned that can help policymakers cope with the next big crisis?

With us to parse these questions is Karen Dynan, a professor of the practice at the Harvard University Department of Economics and the Harvard Kennedy School. A senior fellow at the Peterson Institute for International Economics, Professor Dynan is the chair of the American Economic Association Committee on Economic Statistics. She previously served as assistant secretary for economic policy and chief economist at the U.S. Department of the Treasury from 2014 to 2017. She received her PhD in economics from Harvard Griffin GSAS in 1992.