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How U.S. got economic rescue (mostly) right


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When the coronavirus pandemic ripped a hole in the economy a year ago, many feared that the United States would repeat the experience of the last recession, when a timid and short-lived government response, in the view of many experts, led to years of high unemployment and anemic wage growth.
Instead, the federal government responded with remarkable force and speed. Within weeks after the virus hit American shores, Congress had launched a multitrillion-dollar barrage of programs to expand unemployment benefits, rescue small businesses and send checks to most American households. And this time, unlike a decade ago, Washington is keeping the aid flowing even as the crisis begins to ease: On Thursday, President Joe Biden signed a $1.9 trillion aid bill that will pump still more cash into households, businesses, and state and local governments. ....

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How the U.S. Got It (Mostly) Right in the Economy's Rescue


Analysis
How the U.S. Got It (Mostly) Right in the Economy’s Rescue
Though the recession has been painful, policymakers cushioned the pandemic’s blow and opened the way to recovery.
Shoppers at a mall in Los Angeles. Consumer spending is nearly back to its prepandemic level.Credit.Mark Abramson for The New York Times
March 15, 2021
When the coronavirus pandemic ripped a hole in the economy a year ago, many feared that the United States would repeat the experience of the last recession, when a timid and short-lived government response, in the view of many experts, led to years of high unemployment and anemic wage growth. ....

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