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In a CNN interview, Minneapolis Federal Reserve President, Neel Kashkari, who said yesterday that the central bank is acting “aggressively” to combat the coronavirus crisis, notes the worsening outlook for the economy.

Key comments

  • The coronavirus pandemic could be devastating, like great recession or worse.
  • It depends on how the virus infections progress, and how the country reacts.
  • Tens of thousands of people in Minnesota are getting laid off.
  • Says the faster congress can act, the better.
  • Says I think we have to err on the side of saving lives, even if it means sacrificing other aspects of our lives.
  • Says he has confidence that we as a nation will get through this.

More to come…