Fed's Kashkari says need to keep "pedal to the metal" to boost economy

(Reuters) - The U.S. central bank and Congress have responded more to the COVID-19 crisis than they did in the last crisis, Minneapolis Federal Reserve Bank President Neel Kashkari said, and they need to do still more to return the economy faster to its pre-crisis footing. 'Right now I'm not concerned about it - this is like wartime spending,' Kashkari said at an online seminar held by Montana’s Bureau of Business and Economic Research, in response to a question about the risks of government borrowing too much in the face of the pandemic.

Reuters February 02, 2021 00:06:28 IST
Fed's Kashkari says need to keep "pedal to the metal" to boost economy

Feds Kashkari says need to keep quotpedal to the metalquot to boost economy

(Reuters) - The U.S. central bank and Congress have responded more to the COVID-19 crisis than they did in the last crisis, Minneapolis Federal Reserve Bank President Neel Kashkari said, and they need to do still more to return the economy faster to its pre-crisis footing.

"Right now I'm not concerned about it - this is like wartime spending," Kashkari said at an online seminar held by Montana’s Bureau of Business and Economic Research, in response to a question about the risks of government borrowing too much in the face of the pandemic. "We have the capacity to do what we need to do."

(Reporting by Ann Saphir; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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