When the history of 2020 is written, COVID 19 will loom large—as a public health crisis, but especially for its effects on economic and civic life. While different decisions could have been made, the fiscal and monetary policy interventions by Congress and the Federal Reserve, while controversial, have provided some essential stability for individuals, families, businesses and communities in the face of catastrophic state quarantine orders.
As Americans cope with pandemic fatigue and economic uncertainty, much of the economy remains in a state of limbo. More and more Americans feel a disconnect between themselves and the policymakers they elect to represent them. Likewise, the disconnect between marketable securities on Wall Street and Main Street is growing. While capital markets remain strong, across America, many people remain unable to return to work, landlords cannot collect rent from tenants who cannot pay or have been exempted, and many businesses struggle to get loans, leaving people and businesses distraught as their livelihoods crumble.
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