And the nation had meanwhile been plunged into the deepest economic downturn since the Great Depression. Demands were widespread, both in the country and the Congress, for a regulatory response to protect against the reemergence of the conditions that had led to the crisis.
Professor Raj Chetty is 2013 John Bates Clark Medal and is a prominent member of the Harvard faculty. 3  See G. Veronese, C. Biancotti, A. Rosolia, R. Kirchner and F. Mouriaux (2020), ‘COVID-19 and Official Statistics: A Wakeup Call?’, Banca d’Italia, Deutsche Bundesbank and Banque de France. Forthcoming in Proceedings of the 8th IMF Statistical Forum: Measuring the Economics of a Pandemic.