The Fed Is Doing the Right Amount, Too Much and Too Little, Says Glenn Hubbard

The transcript discusses the economic recovery, likening it to a Nike swoosh rather than a V-shaped recovery. It highlights the Federal Reserve's actions during the pandemic, noting both its speed and potential overreach. The Main Street lending facility is critiqued for its structure, which may deter banks and borrowers. The need for further fiscal policy support, including aid to state and local governments and reforming unemployment insurance, is emphasized.

What does the speaker suggest about the shape of the economic recovery?

How does the speaker evaluate the Federal Reserve's actions during the pandemic?

What concerns does the speaker express regarding the Main Street lending facility?

What fiscal measures does the speaker believe are necessary to support state and local governments?

According to the speaker, what is the estimated size of the fiscal package needed for recovery?