‘Enormous consequences’ without federal relief package – Kashkari

Business Insider/Shalini Nagarajan

graphic image of helicopter money drop“Whatever assistance can be provided to people who have lost their jobs is important,” Kashkari said. “Whatever assistance can be provided to small businesses that have been affected by the pandemic is important. And supporting state and local governments, whose revenues have been hammered by the COVID crisis, that also is important, because they employ a lot of people.”

USAGOLD note:  Kashkari, generally considered one of the Fed’s most consistent doves, also says there is no moral hazard in providing such relief. Few on Wall Street will argue against the monetary and fiscal stimulus package, but at the same time few would argue with the notion that investors should shield their assets from its ill-effects.

Repost from 10-8-2020

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