Hurtsellers: Unemployment Pain Could Be Relatively Short-Lived
Voya Investment Management CEO Christine Hurtsellers was on Bloomberg discussing recent job losses, which have so far put 36 million Americans out of work in just the last 8 weeks. Hurtsellers believes an optimistic view is that job losses could be short-lived, saying, “our Federal Reserve and our Treasury Department acted so quickly using what they learned in 2008 and provided 3-4 times the stimulus as other central banks which is limiting the structural damage that we could potentially see.” While those moves have limited the downside impact, looking at the upside, Hurtsellers said that the government has thus far “only deployed about 50% of what they’re intending to do,” meaning that other areas of the economy should begin receiving support in the near term. Her interview begins near the 4:30 mark.