Former National Economic Council Director Gary Cohn joined American University for a virtual discussion on the state of the U.S. economy amid the coronavirus pandemic. Mr. Cohn said the country’s economy was in a “precarious” position despite the stock market largely returning to pre-pandemic levels. He said the stock market, which is heavily weighted by large corporations, does not reflect the Main Street economy. He also said that Congress would likely have to provide further stimulus for small businesses as well as relief to state governments who have borne most of the costs of responding to the pandemic. American University President Sylvia Burwell, who served as Health and Human Services secretary under the Obama administration, also participated in the discussion.
Watch the interview here.