Fed's Bullard Says a Prolonged Shutdown Risks Bankruptcies, Depression

The video discusses the limitations of shutdown policies during pandemics, emphasizing their temporary nature due to potential economic consequences like business failures and depression. It argues for a shift towards risk mitigation strategies, similar to those used for terrorism and traffic safety, to handle mortality risks more effectively. The speaker suggests that a more granular, risk-based approach is necessary for long-term economic stability.

In what ways does the speaker compare the risks of a pandemic to other types of risks, such as terrorism and traffic?

What does the speaker believe is necessary for a more effective long-term policy regarding economic shutdowns?