Economy1 hour ago (Oct 15, 2020 05:50PM ET)
© Reuters. FILE PHOTO: Minneapolis Federal Reserve Bank President Neel Kashkari poses during an interview with Reuters in his office at the bank’s headquarters in Minneapolis
(Reuters) – The U.S. economic recovery will slow down if unemployed Americans and struggling businesses do not receive more assistance, Minneapolis Federal Reserve President Neel Kashkari said on Thursday.
Thousands more businesses could fail if they do not get more support, Kashkari said during a virtual discussion organized by New York University Stern Center for Global Economy and Business.
The financial pain felt by jobless consumers who are struggling to pay their bills could also spill over to other parts of the economy, Kashkari said.
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