The U.S. economy has been thrown into a tailspin by the coronavirus. That volatility was evident in the stock market in March, when Nasdaq Composite lost over 10 percent before a comeback in April. Adena Friedman, president and CEO of Nasdaq, will join The Washington Post Live on Thursday, May 7 at 1:15 p.m. for a one-on-one conversation with The Post’s Jonathan Capehart. We will hear an assessment about where the markets are headed and the path forward for the U.S. economy.
Nasdaq president and CEO Adena Friedman says 4 to 5 million new investor accounts have been created with the top five publicly traded retail brokerages this year. ‘I think part of that is because the dip was so severe when the stock started to drive downward that they saw the potential for there to be some opportunities and maybe price dislocations they could take advantage of. Partly, because they’re home, and they have time on their hands.’
When asked if she has concerns about whether government spending has been excessive during this crisis, Nasdaq president and CEO Adena Friedman said the most important thing the government can do right now is help people ‘make their way through this crisis,’ especially small and medium businesses. “Half of the country is employed by small to medium businesses, so if we can help those businesses find their way through it and still be here at the other end of it, then we are ultimately helping all of our citizens make their way through this crisis.”
Adena Friedman, president and CEO of Nasdaq, said one lesson that can be learned from the coronavirus pandemic is how interconnected the economy is and the need for swift action across all sectors. ‘The lessons learned from the last time were: Do make sure you take action quickly. Don’t let the perfect be the enemy of the good as you are establishing fiscal stimulus measures. Make sure that you are thinking through all of the different elements of the economy that are impacted so you don’t inadvertently leave big swaps of the economy behind because of the fact that every element of our economy is interconnected.”
Adena Friedman, president and CEO of Nasdaq, said the sectors that have continued to do well during the coronavirus pandemic are companies involved in technology, financial infrastructure and biotech.
President and CEO, Nasdaq
Interviewed by Jonathan Capehart
The Washington Post
About Washington Post Live
Washington Post Live is the newsroom’s live journalism platform. Top-level government and business leaders, emerging voices and newsmakers discuss the most pressing national and global issues of the day.