Pimco's Fels Says Next Economic Downturn May Be Deeper, Longer

The video discusses the current economic cycle, highlighting the global economy's slowdown and central banks' shift to dovish policies. It examines the implications of low interest rates, potential recession risks, and the limited policy responses available. The role of fiscal policy in future downturns is also explored, emphasizing the challenges faced by central banks and the need for fiscal expansion.

What implications does the current dovish stance of central banks have on future economic growth?

How might the low policy rates affect central banks' ability to respond to future economic downturns?

Discuss the potential challenges that the Bank of England faces regarding interest rate hikes in the context of Brexit.

In what ways could quantitative easing be justified in the next economic downturn?

What are the concerns regarding fiscal policy in the context of a potential economic downturn?