David Kotok, Co-Founder & Strategic Advisor at Cumberland Advisors, joins Monetary Matters to discuss insights from his new book, “The Fed and the Flu: Parsing Pandemic Economic Shocks.” Kotok cites data over millennia to show that pandemics typically cause natural real interest rates to decline, and productivity and inequality to rise. Kotok argues that we must prepare for the next pandemic and shares his view on the origin of the COVID virus. Part II of an interview recorded on April 4, 2025, with the first part having aired on April 7, 2025. 

David Kotok’s book, “The Fed and the Flu: Parsing Pandemic Economic Shocks”: 

https://www.amazon.com/Fed-Flu-Parsing-Pandemic-Economic-ebook/dp/B0DCK1ZHJT

Paper, “Longer-Run Economic Consequences of Pandemics”: https://www.nber.org/system/files/working_papers/w26934/w26934.pdf

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