Eberly: Covid-Era Policy Will Affect Future Monetary Policy

The video discusses the economic management lessons learned from the COVID-19 pandemic, focusing on monetary policy, supply and reallocation shocks, and the impact of geopolitical and climate risks. It explores the potential shift in economic paradigms towards higher interest rates and the challenges of secular stagnation.

In what ways might the concept of R Star change in the future according to the discussion?

What does the term 'secular stagnation' refer to, and how is it relevant in the current economic context?