Posen: Fiscal Policy Is More Aspiration Than Reality

The transcript discusses the role of the IMF and the US's political context, highlighting the lack of fiscal action due to election results and budget issues. It explores fiscal policies in countries like Italy, the UK, and Brazil, and the global trend towards economic stimulus. The discussion includes the challenges of managing public and private debt, the importance of growth rates, and the resilience of economic systems. The transcript concludes by examining the flexibility of financial systems in the face of potential exogenous shocks.

How does the text describe the relationship between public debt and economic resilience?

What challenges does the text identify regarding the flexibility of the economic system in the face of exogenous shocks?