Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, is calling for a six-week lockdown to save lives and the economy.
on Friday alongside Dr. Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota.All Things Considered
Giving up too early cost the economy, says Kashkari. What the country needs now, he says, is"a more stringent, uniform lockdown state-by-state" until the virus can be brought under control."Then we can return to normal economic activity with more confidence."The economic argument is what we're doing right now isn't working.
I want us to get back to a robust economy as quickly as possible. This is much faster than allowing the virus to spread uncontrolled.Well one of the things that has happened in this recession that is unlike any recession in modern times, our savings rate has taken off. It's really curious. Those of us, like me, who have been able to keep our jobs, we're actually saving more money because we're not going out to restaurants or movies or on vacations.
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