Top US Federal Reserve Official Calls For Shutting Down The U.S. Economy To Save It

NEWS: @neelkashkari says if the U.S. were able to lockdown for a month or 6 weeks "we could get the case count down" so testing was adequate to control #covid19 or risk permanent economic scarring and dent the recovery. pic.twitter.com/MAUIisokGG

— Face The Nation (@FaceTheNation) August 2, 2020

The Hill: Top Federal Reserve official says US needs another lockdown to save economy

The government should again impose strict coronavirus-related lockdowns for a month or longer across the U.S. in order to boost the economy, a top Federal Reserve official said Sunday.

Neel Kashkari, president of the Minneapolis Federal Reserve Bank, said the nation needs to control the spread of the virus, which is increasing across much of the country, to get back on a path to economic health.

“That's the only way we're really going to have a real robust economic recovery. Otherwise, we're going to have flare-ups, lockdowns and a very halting recovery with many more job losses and many more bankruptcies for an extended period of time unfortunately,” Kashkari said on CBS’s “Face the Nation."

Read more ....

Update #1: Full transcript of "Face the Nation" on August 2, 2020 (Face The Nation/CBS)
Update #2: Fed’s Kashkari Urges Congress to Act, Suggests Fresh Lockdown (Bloomberg)

WNU Editor: According to this senior FED official .... to save the US economy you must destroy it, and to achieve this you must shut it down for a month or longer. The official who is making this announcement is a somebody .... he is the President of the Minneapolis Federal Reserve Bank !?!?!?!

Update #3: To be fair. Almost every currency in the world is going through rough times .... Dollar Sends Warning That U.S. Is Losing Its Grip on the Virus (Bloomberg).

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