The US economy, battered by a resurgence in the spread of COVID-19, needs increased government spending to tide over households and businesses and ...
REUTERS: The US economy, battered by a resurgence in the spread of COVID-19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, several US central bankers said on Monday .
Echoing those sentiments, though in slightly different terms, were Dallas Federal Reserve Bank President Robert Kaplan and St Louis Fed President James Bullard. Kaplan also said he did not agree with his colleague, Minneapolis Fed President Neel Kashkari, who at the weekend said he thought the US economy should shut back down again for four to six weeks to suppress spread of COVID-19.
"If you put too much emphasis on the idea that a vaccine is going to come and save us, and someone's going to crack a very difficult scientific problem ... then you get people not doing anything and sitting around waiting for the vaccine," Bullard said in a presentation during an online event hosted by the bank's Memphis, Tennessee, branch.
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