Former Fed Vice Chair Blinder says cutting government aid would be a 'catastrophic mistake'

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Former Fed Vice Chair Blinder says cutting government aid would be a 'catastrophic mistake'
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Former Federal Reserve Vice Chairman Alan Blinder said Wednesday that cutting government aid would be a 'catastrophic mistake.'

Former Federal Reserve Vice Chairman Alan Blinder said Wednesday that cutting government aid would be a "catastrophic mistake."

"Cutting the dollar flow in this emergency would be a catastrophic mistake," Blinder said on CNBC's "Squawk on the Street." Some investors — including "Shark Tank" investor Kevin O'Leary — believe the government should not establish more relief programs for businesses impacted by the coronavirus. O'Leary does not want the government tothat continue to exist even though their revenues don't exceed their debt payments.

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