Series 1 Episode 8

Staying on top of COVID’s economic impact with Shamik Dhar

Episode show notes

Covid has presented an unparalleled challenge to our economy, and with the uncertainty surrounding our fiscal future it’s high time to prepare your business to ride the wave and come out on top.

Who better to gaze into the crystal ball and help shine a light on how to move forward than Shamik Dhar, Chief Economist at BNY Mellon. Shamik breaks down what might happen moving forwards as a result of Covid, and whether we’ve anything to learn from previous crises.

What we cover

  • Similarities and differences between responses to Covid and the 2008 economic crisis
  • The financial impacts of Covid on a national and global scale
  • Our potential routes out of national debt
  • How you can prepare your business to ride out the wave of economic uncertainty


About our guest

Shamik was the Chief Economist and Director for Economics at the Foreign and Commonwealth Office from 2014 until 2019.

He has had 30 years experience as a professional economist, alternating between private and public sectors. He started at HM Treasury in the late 1980s, moving on in the 1990s to Oxford Economic Forecasting and the Bank of England (where he ran the UK forecast team and was a senior manager in Monetary Analysis). In 2000, he moved to Morley Fund Management, then in 2004 co-founded Fathom Consulting, a leading economics consultancy, before moving back into asset management with Aviva Investors in 2009.

Shamik has a BA in Philosophy, Politics and Economics from Oxford University, and a Masters in Economics from Queen Mary College, University of London.

Visit BNY Mellon


“Inflation is a much more aggressive way of taxing people than actually explicitly putting taxes up, so more of the inflation tax could fall on younger generations going forward.”

23:00 - Shamik Dhar

“I think COVID is accelerating some underlying trends, right? It's accelerating digitalization and automation and all that sort of stuff. But in the world of politics, it's accelerating underlying trends as well.”

37:30 - Shamik Dhar

“I think what we're in for is a much more fractured, bilateral, slightly more antagonistic world between the superpowers, if you like. It's also going to be a bit more regionalized. I think you might find blocks emerging around the US, around Europe, and around Asia.”

39:20 - Shamik Dhar

You are now leaving First Wealth's website

First Wealth (London) Limited does not endorse the linked website or any of its contents, and is not responsible for the accuracy of the information contained within it.