by Mike ‘Mish’ Shedlock
Richmond Fed President Thomas Barkin issued a video call today for more free money.
Thomas Barkin joins Minneapolis Fed President Neel Kashkari in the free money call.
Barkin says the Economy Faces ‘Sinkhole’ Without More Fiscal Support.
“Four months ago, when we did the first stimulus, we thought the economy faced a pothole and the stimulus put a plate over it so we could navigate. Now escalation of the virus may be making that pothole into a sinkhole and creating a need for a longer plate,” Barkin said in webcast remarks to the Northern Virginia Chamber of Commerce. “If Congress takes support away too abruptly … the unemployed, their landlords, the places they shop will then feel the full brunt.”