The Political Risk of Phase Five and the Next Three Weeks
07/16/2020
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The next three weeks could be the most impactful for state and local governments as it relates to the fiscal policy response to the COVID-19 pandemic.
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Meaningful aid for state and local governments is not a slam dunk, and political risk is high.
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The U.S. monetary and fiscal policy response to the pandemic has been overall substantial, but has surprisingly left state and local governments all, but untouched.
