Actually, the economy was quite robust before the pandemic but it was spurred on by fiscally irresponsible tax cuts and defense spending. Granted, not all the jobs in this economy were great, but that is more a reflection of what happens when you transition from an economy that makes things to a service sector based one. The service sector transition has been in the making for a number of years so you can’t pin that on any individual administration. The only good I see out of this pandemic, from an economic point of view, is that it is going to wake America up to the fact that just buying everything from the cheapest country is not in our best interest in the long run. We’ve got to get back to making things here again instead of outsourcing it.
As early as September the Fed was already pumping money into the repo markets.
Sept- https://www.reuters.com/article/us-usa-fed-repo-reaction-analyst-view-idUSKBN1W31U1
Oct- https://markets.businessinsider.com...t-not-calm-liquidity-fears-2019-10-1028643549
Nov- https://www.politico.com/news/2019/11/15/federal-reserve-funding-markets-071142
January- https://bitcoinmagazine.com/article...illion-into-the-repo-market-where-does-it-end
The economy was showing cracks pre-pandemic for a while.
