Like for the 2008 financial crisis, the Covid pandemic has shown that the current economic system based on limited liability firms operating solely for the shareholder ultimately rests upon the responsibility of national balance sheets. The need for public intervention to bail-out the private sector was already evident from central banks quantitative easing programmes. With government bailing out entire sectors, the transition towards state intervention has become even more explicit. What to expect then from a post-Covid world? Could inflation finally be rising? What will Central Banks’ new policy instruments be like?
Alberto Gallo, Portfolio Manager at Algebris Investments, joined a panel organised by the alumni of the Executive Master in Finance programme of SDA Bocconi (Bocconi University) to discuss macroeconomics implications of a post-Covid world.
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