Watch: Recovery and resilience after COVID-19
On Wednesday, January 13, Axios' Dan Primack and Dion Rabouin hosted a conversation on the future of equitable economic recovery, featuring Rep. Ro Khanna (D-Calif.) and chef and World Central Kitchen founder José Andrés. They unpacked the pandemic's impact on small businesses and minority communities and spotlighting efforts to create an inclusive economy.
José Andrés discussed the impact of the pandemic on the hospitality and food industry, stressing the survival of restaurants as a critical part of the U.S. economic recovery.
- On the food industry's need for federal support: "Restaurants will open again, and the issue is: how many are we going to lose from today until the next three, six months, or one year until everything goes back to normal? We have to make sure that the federal government is behind those businesses that are badly affected by this pandemic."
- On ensuring living wages for workers: "We need to make sure that ... the food industry is not an industry that lives on the fringe of almost poverty, but that every American employee, every restaurant worker will make a decent living."
Rep. Ro Khanna unpacked the pandemic's impact on rural and minority communities and outlined a strategy for the Federal Reserve Board to better target their efforts.
- On having the Fed scrutinize how they've been lending: "[We need] to make sure that lending isn't concentrated just to financial institutions and large corporations, that they're using their regional banks to be regional economic development banks considering rural and minority communities."
- On taking a long-term approach to economic recovery: "We need to infuse [the Small Business Administration] with loans. I would do $10 trillion over 10 years to have 200,000 more loans to small businesses across America."
Axios co-founder and CEO Jim VandeHei hosted a View from the Top segment with Mastercard's strategic growth Vice Chairman and President Michael Froman who discussed the role of the private sector in times of crisis.
- "The private sector can do a lot. And by this I mean not just philanthropy or corporate social responsibility or ESG efforts. As important as all of those are, the key is really getting companies to look at their products and services, technology and expertise and explore what they can do to have a positive social impact on a commercially sustainable basis."
Thank you Mastercard for sponsoring this event.