"If we don't do that, and if we have this rampant Virus spreading throughout the country, with repeated outbreaks and local lock downs in the next one or two years, which is quite possible, we will many, many other firms experience failure." Then the recovery for all will take place much more slowly, warned Kashkari.
For Federal grants
The conflict between the Democrats in Congress and the White house about new Corona-aid Kashkari said that the country could afford to be generous help for the unemployed. Thanks to the high savings rate, the United States would not need to Finance its budget deficit through foreign debt. "That is, in fact, that we have as a country a lot more resources to support, which have been dismissed."
The Corona-crisis has triggered in America, an economic crash, and throws back the largest economy in the world for years. The gross domestic product (GDP) shrank in the second quarter of the year, 32.9 percent. To was already the beginning of the year, a big Minus of 5.0% was recorded. Consumption, investment and export economy suffered in the spring solid under the impact of the pandemic, is not were given the many of the new infections are a long way off.Updated Date: 03 August 2020, 02:19