Florence Pisani, director of economic research at the asset management company Candriam, is co-author of
The American Economy
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LE FIGARO.
- Why is Joe Biden launching such a massive stimulus package?
Florence PISANI.
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The American president makes a deliberate choice to do too much rather than not enough.
It draws the lesson from the financial crisis of 2008. With the program set up by Barack Obama, it took ten years to find full employment.
Today, there is no longer any question of waiting.
Joe Biden takes the party to quickly bring the economy back to full employment.
It is certainly a good thing.
The US central bank, the Fed, also shares this vision since its president, Jerome Powell, has indicated that he was more concerned about an insufficient recovery than inflation.
Are the huge amounts involved a guarantee of efficiency?
Given the size of this plan, there will certainly be some poorly targeted measures.
But it is welcome and complements the previous ones.
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