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Axios' Mike Allen, Hans Nichols, and Niala Boodhoo hosted a conversation on how the next presidential term will impact the economy and workforce, featuring White House economic adviser Larry Kudlow, Joe Biden's policy director Stef Feldman and The Conference Board chief economist Dana Peterson.

Larry Kudlow discussed the breakdown of stimulus talks between Republicans and Democrats and President Trump's economic performance over the past four years.

  • On Trump’s economic record and plan for a second term, which has been criticized as vague: "The president has a track record. He's the incumbent. He has a very clear track record with a very clear set of economic principles. And he will provide more of the same."

Stef Feldman unpacked Vice President Biden's economic platform and the economic impact of COVID-19.

  • On this the most recent U.S. GDP report: "Our economy plunged into a recession because of President Trump's failure to have a plan to get the virus under control...Q3 growth wasn't enough to pull us out of the ditch that President Trump drove us into."

Dana Peterson discussed the recent GDP report as well as how the central banks and individual banks can contribute to economic equity.

  • On rewiring our economy for a more inclusive future: "We must tackle these issues on multiple fronts. When you think about access to banking, many people are unbanked...Individual banks can do more in terms of making sure that people have access to credit and that they're not being denied for reasons that could potentially be linked to some kind of bias."

Axios co-founder and CEO Jim VandeHei hosted a View from the Top segment with USAFacts Steve Ballmer and discussed the U.S.'s economic trajectory.

  • On the impact of the COVID-19 stimulus package: "The decline in unemployment started to occur as soon as the government started putting stimulus back into the economy. Obviously, the stimulus for business — the PPP program — was undoubtedly a part of that."

Thank you USAFacts for sponsoring this event.

Go deeper

Biden's economic team will write a new crisis playbook

Illustration: Eniola Odetunde/Axios

Joe Biden's economic team faces a daunting task helping the millions of Americans who have lost their jobs or otherwise been financially ravaged by the coronavirus. But most of them have first-hand crisis experience, dating back to when Barack Obama inherited a crumbling economy when he took office in 2009.

Why it matters: Most of President-elect Biden's economic nominees served in the Obama administration, and wish that they could have gone bigger to help America recover from the 2008 financial crisis. But it's not going to be easy for them to push through massive fiscal spending in 2021.

Updated Dec 1, 2020 - Axios Events

Watch: COVID-19 and the AIDS Fight

Axios' Mike Allen, Niala Boodhoo and Caitlin Owens hosted a conversation on the global response to two pandemics — AIDS and COVID-19, featuring Every Mother Counts founder Christy Turlington Burns, Churches Health Association of Zambia Head of Advocacy Yoram Siame and ONE Campaign President and CEO Gayle E. Smith.

Christy Turlington Burns discussed maternal health in the U.S. and the impact of COVID-19, highlighting how the risk of complications during pregnancy is especially high for Black and Indigenous women.

  • On the role of midwives and doulas in maternity care: "There are very few states in the country that adequately support these types of health care workers who we know make a huge difference in the impact of childbirth for any woman, let alone a woman who may have a chronic health condition or be marginalized."

Yoram Siame unpacked Zambia's fight against COVID-19 and the country's investment in public health safety.

  • On COVID-19's impact on Zambia: "Zambia is a landlocked country, which means that we depend on our neighbors for most of the goods and services. And when those countries go into lockdown, it means that our supply is cut off. And this has a big impact on economic activity."
  • How COVID-19 presents a challenge for treating existing diseases: "We are living in an environment where we don't have the number of health workers that we need. COVID-19 means that this literal human resource is shared between us and issues like HIV, TB, malaria, and non-communicable diseases like cancer, which are not going away."

Gayle E. Smith discussed how the COVID-19 pandemic has diverted resources from efforts to care for patients with AIDS and HIV and malaria, and the challenges of fighting two epidemics.

  • On the unique bipartisan support for fighting AIDS: "There's a fair amount of division floating around Washington, so to know that ending this epidemic...is still a priority and still a place where Democrats and Republicans have shown that they can work together is encouraging."

Donate to (RED) and help fight both pandemics.

Thank you Bank of America for sponsoring this event.

Dion Rabouin, author of Markets
Dec 1, 2020 - Economy & Business

Banks made it harder for consumers to get loans last quarter

Illustration: Eniola Odetunde/Axios

Loan growth at U.S. banks declined in the third quarter, as banks tightened lending standards and demand from businesses fell.

Why it matters: It's the latest piece of evidence showing that the Fed's programs are helping prop up Wall Street but aren't trickling down to help most everyday Americans.