Summary: <p>In this episode of <em>Berkeley Talks</em>, Martha Olney, a teaching professor of economics at UC Berkeley, discusses the economic forecast — how the post-pandemic U.S. economy might compare to that of the so-called roaring 1920s.</p><p>"When I studied the 1920s, I was really focused on consumer spending, particularly household spending for durable goods — cars, appliances, furniture, jewelry — and the role of installment credit in making a boom in consumer durables possible," Olney said on <a href="https://www.anderson.ucla.edu/centers/ucla-anderson-forecast/forecast-direct/january-2021" rel="noopener noreferrer" target="_blank">UCLA's <em>Forecast Direct</em></a> in January.</p><p>But, she said, today, much of the nation's consumer spending is on services — going to restaurants, getting a haircut — which lengthens the time it takes to recover from a recession.</p><p><a href="https://news.berkeley.edu/2021/01/29/berkeley-talks-martha-olney-economic-forecast" rel="noopener noreferrer" target="_blank">Listen to the episode and read a transcript on <em>Berkeley News.</em></a></p><br><hr><p style="color:grey;font-size:0.75em;"> See <a style="color:grey;" target="_blank" rel="noopener noreferrer" href="https://acast.com/privacy">acast.com/privacy</a> for privacy and opt-out information.</p>
