Fed's Kashkari: US needs to shut down US to beat the coronavirus

Author: Greg Michalowski | Category: Central Banks

Speaking on CNBC

  • US shut down around 30% and then opened up too soon
  • US lockdown wasn't strict enough
  • if we did the right in the spring we would have college football, we would have schools opening
  • the virus is raging out of control
  • recovery will be muted if no lockdown
  • is very important that Congress to continue to provide support
  • would need less stimulus if had a lockdown
  • Comfortable that the Fed has the the tools within our dual mandate
  • fiscal policy has a critical role to play
  • the path of the virus will determine the path of the economy
  • not sure the Fed can do anything right now
  • real unemployment rate close to 14%
There is some truth to his thoughts.  What would have happened if there was a plan to really gun toward schools opening or fall football.  

PS. Below is a map of where the SEC and ACC fottball conference are located.  The games might not have crowds but football is a social event in those states.  I don't think people will be holed up watching the games in their homes.  

US cases

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