Over the last year, the US economy has been moderately in flux. With the Coronavirus pandemic changing global trade practices and domestic spending patterns, it’s hard to predict what the future will hold for the American economy. While thousands of medical professionals worked around the clock to create a vaccine and care for the sick, people like Justin Muzinich were helping the American people in their own way. As a graduate of Harvard Business School and Yale Law, Muzinich holds the position of US Deputy Secretary of the Treasury, putting him in the unique and challenging position to oversee the US economy while it goes through this unprecedented time. Expertly poised to handle economic unease, Justin Muzinich has made many strategic moves that may have saved the US economy from collapse.
As he continues to work toward stable economic projections, the ultimate goal, according to Justin, is global cooperation. He asks us to set aside any differences we may have and join him in focusing on rebuilding our world. Moving forward, having professionals like Muzinich on staff in Washington DC will help the US move forward into economic security when the time comes to leave Covid-19 behind us.
There are several ways that Justin Muzinich has worked to bolster the economy over the last year. As a supporter of the CARES act, Justin Muzinich applauded the way in which the bill both helped struggling households and gave support to struggling businesses. He reported a strong economy going into the pandemic and believes that there are strategic ways in which we can prevent significant economic recession when the crisis is behind us. Much of Muzinich’s focus is on businesses, ensuring that the infrastructure of our economy is intact for years to come. He also stresses the importance of propping up local and state governments, many of whom find themselves strapped for cash with added Covid-related expenses. Muzinich was a key player in the corporate-debt backstops and providing support for riskier corporation bonds that occurred in the spring of 2020.
Muzinich puts an emphasis on cryptocurrency and its importance in the economy going forward. In order for this vital part of our changing world to remain economically viable, Muzinich stresses the importance of security to protect economic infrastructure. However, the most important thing going forward, according to Muzinich, is creating a global economy and being in mutual support of one another. He compared the United States and the EU’s responses, stating that the stimulus packages in the United States mirror the EU’s support programs. According to Muzinich, a unified global approach will be key. He also warns about the availability of liquid assets, as many individuals and companies have been calling in their assets, and the supply is running low.
Overall, it’s beneficial for the economy to have people like Muzinich monitoring the economy as we tread through these uncharted waters. Though the pandemic certainly isn’t over yet, experts like Muzinich predict that the United States economy will likely be okay in the wake of this crisis. Though things certainly won’t look perfect right away, with a little global cooperation and strategic government intervention, it’s likely that the economy will rebound soon after this nightmare is over.
