Biden administration seeking congressional approval for a $1.9tn (about 9 per cent of GDP) stimulus plan. A second package is planned to follow this focused on infrastructure, taking the total fiscal effort to an estimated $3tn to $4tn (14 per cent to 19 per cent of GDP).
Massive migration of risk from banks to non-banks
Mohamed El-Erian, president of Queens’ College, Cambridge university, an advisor to Allianz and Gramercy and a best selling author. He previously served as chief executive and co-chief investment officer of Pimco, deputy director of the IMF and president and CEO of Harvard Management Company.
FT 23 February 2021
Jag tror på Mohamed (El-Erian) Englund blog 2009-06-18