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New Atlanticist

Mar 26, 2020

Coronavirus crisis sends shockwaves through US labor market

By Bart Oosterveld

The US Department of Labor’s unemployment release on March 26 gave fresh numbers to display the shocking and historic impact of the spread of the coronavirus and the resulting economic collapse in the United States. Initial weekly unemployment claims through March 21 came in at 3.28 million, a historic high surpassing all but the most pessimistic forecasts as well as the experiences in prior sharp downturns such as the oil crisis and global financial crisis.

Economy & Business Macroeconomics

New Atlanticist

Mar 24, 2020

The Fed ramps up its coronavirus response

By Bart Oosterveld

On March 23, the Fed announced meaningful additional measures to support the US economy, following dire predictions from some senior policymakers over the weekend. In its statements, the Fed restated its commitment to deploy “its full range of tools to support the US economy,” and its next steps do not by any measure exhaust those tools. The Fed, in other words, has multiple “kitchen sinks” to throw at problems.

Coronavirus Macroeconomics

New Atlanticist

Mar 18, 2020

The global economic policy response to coronavirus takes shape

By Bart Oosterveld

Governments and central banks globally have been engaged in an initial round of measures to blunt the anticipated economic impact of the spread of the virus, including making funds available, lowering key interest rates, intervening in funding markets, and supporting emergency lending.

International Financial Institutions International Markets

Bart Oosterveld was a nonresident senior fellow with the Atlantic Council’s GeoEconomics Center and was director of the Global Business & Economics Program until December 2019. In the latter capacity, he led the Council’s work on global trade, growth, and finance, including the Council’s flagship EuroGrowth and Economic Sanctions initiatives.

Prior to joining the Atlantic Council in November 2017, Mr. Oosterveld worked at Moody’s Investors Service for almost two decades. In his most recent role as chief credit officer, Mr. Oosterveld was responsible for the credit strategy in the Americas across all asset classes. Between 2010 and 2014, Mr. Oosterveld served as the rating agency’s global head of sovereign ratings. Among other positions, he served as chair of the company’s Macroboard, its chief credit officer for governmental ratings, as well as management representative to the Moody’s Corporation’s board of directors.

Mr. Oosterveld graduated with degrees in the philosophy of law and the history of Spanish literature from the University of Amsterdam. He holds master’s degrees in public policy from Columbia University and in economics from Georgetown University. He speaks Dutch, Spanish, English, German and French.