Economist Weinberg Sees Markets Overly Optimistic on Jobs, Policy

The video explores the differences between a crisis and a recession, emphasizing the lack of policy response during a crisis and the challenges of policy exhaustion in a recession. It highlights historical recovery patterns, particularly post-2008, and discusses the Federal Reserve's limited tools and fiscal policy constraints in addressing economic downturns.

According to the speaker, why might the recovery from the current recession take longer than expected?

What does the speaker imply about the Federal Reserve's ability to respond to another recession?