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Top US official urges ‘really hard’ lockdown as coronavirus outbreak enters ‘new phase’ – Sydney Morning Herald
He said the US economy, which has suffered its biggest blow since the Great Depression, would be able to mount a robust recovery if the virus was brought under control.
He said Congress is positioned to spend big on coronavirus relief efforts because the nation’s budget gap can be financed without relying on foreign borrowing, given how much Americans are saving.
“Those of us who are fortunate enough to still have our jobs, we’re saving a lot more money because we’re not going to restaurants or movie theatres or vacations,” Kashkari said.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis.Credit:Bloomberg
“That actually means that we have a …
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