Economics
Fed’s Kashkari Urges Washington to Move Fast on More Relief
- Aid vital to halt bankruptcy wave, Minneapolis Fed chief says
- Losses may eventually roll up into banking sector: Kashkari
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Federal Reserve Bank of Minneapolis President Neel Kashkari said more fiscal support was urgently needed to support the U.S. economic recovery, following President Donald Trump’s unilateral decision to halt talks for another round of aid.
“Whatever Congress can do with the executive branch -- come together aggressively to put money in the hands of people who have lost their jobs and to support small businesses so that we don’t have this continuing wave of bankruptcies across the economy -- it’s just vital that they move quickly, whatever they do,” Kashkari said in an interview Wednesday on CNBC.