Read the original article by Niv Elis on The Hill.
JPMorgan Chase & Co. has shared policy recommendations for economic recovery, including calls for further stimulus, with key members of President-elect Joe Biden’s transition team, The Hill has confirmed.
The JPMorgan Chase PolicyCenter, a year-old policy shop headed by former Obama adviser Heather Higginbottom, compiled the list of recommendations based on an analysis of anonymized data from its clients, which it says are good, real-time indicators of how the economy is faring. Parts of Biden’s transition team have actively reached out to ask for the proposals as well. CNBC first reported the story.
In arguing for further stimulus and reinstating expanded unemployment insurance, for example, the document points to the fact that the payments were used up quickly, especially by low-income households. Economists often look to whether economic support is spent, which stimulates the economy, rather than being stashed aside for later…