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Coronavirus Relief

According to an analysis released Monday, S&P Global predicts that the $1.9 trillion COVID relief bill backed by the White House would lift the economy back to its healthy pre-pandemic levels as soon as this summer. Moreover, the passage of the bill, the report said, would keep things rosy at least until the end of 2022. The findings were summarized by The Hill.

“We find that if the $1.9 trillion package were put into law, the U.S. economy would reach pre-crisis levels in the second quarter of 2021, with a stronger demand-driven path of growth through 2023,” the report said. According to the report, mid-2023 would also see unemployment levels drop to below 4%.

As for the much smaller $618 package advocated by a group of GOP senators led by Susan Collins of Maine, S&P Global reported that such a bill would result in more modest, transient growth: “While the policies accelerate ‘filling in the demand hole’ this year, they are temporary, and GDP will drift back to a lower pace of growth,” the report said.

While President Joe Biden has welcomed input from the other side of the aisle—he met with 10 senators at the White House Monday night for nearly two hours—he is much more likely to continue to advance a much bigger package, which is also backed by Treasury Secretary Janet Yellen as well as Congressional Democrats. Their fear is of doing too little, not too much, a view informed by the federal response to the Great Recession, which (though historically large at the time) is now seen to have been too meager, leading to undeniable growth—but at a needlessly sluggish pace.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.