BAN2001. Welcome & Introductory Remarks and Keynote: The Economy and the Ripple Effects of COVID-19

In this session, Dr. Marci Rossell separates fact from fiction on the potential impact businesses can expect from coronavirus (COVID-19). Marci outlines the current state of the economy, explaining government relief packages, including the CARES Act, and the aid needed for natural disasters. Explaining the source as a healthcare problem, rather than an economic issue, she analyzes past events (think SARS and MERS epidemics) to predict the economic effects, such as postponed spending, job loss, and a decreased value of retirement savings.

She highlights that this outbreak is symptomatic of a larger trend: that businesses today face a variety of seismic surprises. Cyberterrorism, environmental disasters, swings in the regulatory regime, and, yes, epidemics like COVID-19 can all impact interest rates, yield curve, and profitability of financial institutions.

Learning Objectives:

• Analysis of the state of the economy
• Identify how businesses can plan for unforeseen events today and in the future
• Recognize the impact of natural disasters like COVID-19 on financial markets and institutions