Minneapolis Fed President Neel Kashkari told CBS that the only way to have a “real robust economic recovery” is through “clamping back down” the coronavirus cases to keep things under control, or “getting a vaccine or a robust therapy”. 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. ”

“If we were to lockdown 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 it,” Kashkari added. “If we don’t do that, and we just have this raging virus spread throughout the country with flare-ups and local lockdowns for the next year or two, which is entirely possible, we’re going to see many, many more business bankruptcies.”

Transcript of Kashkari’s CBS interview.

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