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When COVID-19 hit, many predictions were made about how the global pandemic would impact the macroeconomy. Some of those predictions were accurate, some of them turned out to be false alarms. But when business leaders need to make strategic decisions with macroeconomic forecasts in mind, how do they tell the truth from the doomsaying? Philipp Carlsson-Szlezak is the global chief economist at Boston Consulting Group. He also leads the BCG’s Center for Macroeconomics and regularly contributes to publications like the Harvard Business Review and Fortune.com. His book, Shocks, Crises, and False Alarms: How to Assess True Macroeconomic Risk delves into strategic ways business leaders can assess macroeconomic risk in the face of events like a global pandemic, war, or even presidential elections. Philipp and Greg discuss the necessity for today’s executives to understand the macroeconomy, a new approach to judging macroeconomic risk, and why conventional models of the past might not be the best predictor for the macroeconomy’s future.