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Minn. Fed President calls for ’hard’ lock down to reduce long-term economic cost

Minn. Fed President calls for ’hard’ lock down to reduce long-term economic cost

The U.S. economy would benefit if it were to ’lock down really hard’ for 4-6 weeks, a top Federal Reserve official said on Sunday and can afford to spend a lot on relief since the savings rate is high. Neel Kashkari, president of the Minneapolis Federal Reserve said that only if this is done, there will be a strong recovery and that otherwise a ’raging virus’ will cause more and longer disruption.

Skeptic
Skeptic
Mutatis
Mutatis 1 months

“If we get the economy growing, we will be able to pay off the debt,” Kashkari added. That is the gamble is it not. What if you spend all this money and the economy does not grow as planned, how will the debt be paid off?

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