And temporary policy changes typically leave a hole on the other side and therefore create other problems down the road. Still, on balance, a package of well-crafted, temporary, quick-acting demand-side fiscal measures would, in my view, make a constructive contribution to supporting and strengthening the rebound expected next year.
Taking steps to simplify and lower this regulatory burden for small community banks and their customers would help to ensure that homeowners can stay in their homes during times of stress, like the one we are facing currently due to COVID-19.