Fed’s Kashkari Warns of a ‘Greater Catastrophe’ That Could Make the Last Few Months Feel Like ‘Just a Warm-Up’

by Shawn Langlois
Market Watch

‘To be effective, the lockdown has to be as comprehensive and strict as possible. If we aren’t willing to take this action, millions more cases with many more deaths are likely before a vaccine might be available. In addition, the economic recovery will be much slower, with far more business failures and high unemployment for the next year or two.’

That’s Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, sharing his thoughts in a recent New York Times op-ed co-authored with Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota

A week ago, Kashkari made similar comments on CBS’s “Face the Nation,” when he argued that “if we were to lock down hard for a month or six weeks, we could get the case count down so that our testing and our contact tracing was actually enough to control” the spread of the virus.

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