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Fed’s Kashkari Says Banks Should Raise Money, Halt Dividends

Neel Kashkari

Neel Kashkari

Photographer: Andrew Harrer/Bloomberg

Federal Reserve Bank of Minneapolis President Neel Kashkari says that large U.S. banks should raise $200 billion from private investors and stop paying dividends so they can support the economy.

“The most patriotic thing they could do today would be to stop paying dividends and raise equity capital, to ensure that they can endure a deep economic downturn,” Kashkari writes in a Financial Times op-ed.