Recognizing that ‘we knew that we did not know’, we discussed new ‘equilibriums’ and a new ‘normality’, with profound doubts, and we talked about the crucial role that extraordinary budgetary interventions and sizeable and timely monetary policy measures would have in softening and diluting over time the consequences of the crisis.
Now that the health crisis is over, the dramatic fall in demand has been recouped and ‘social distancing’ is a thing of the past, we find ourselves facing new challenges and new emergencies.