Reuters - Trading at Noon: Wall Street wobbles on profit taking, stimulus in focus

Gregory Daco, Chief US Economist at Oxford Economics joins Reuter’s Elena Casas for Trading at Noon.

Gregory Daco discusses the debate around the economy's need for Biden's $1.9tn American Rescue Plan (ARP) and, whilst some argue that even though relief funding is important and some stimulus is needed, it could lead to spiralling inflation, financial market instability and reduced fiscal space for further stimulus. However, we disagree on all three fronts and instead see strong reasons why the dire outlook and fear of the unknown are overstated. 

Watch and listen to the full interview below:

Topics: Thought leadership, Economic outlook, Fiscal stimulus, US economy, Biden, US President