Read more on this subject: Federal Reserve
News Story Source: https://www.zerohedge.com, Tyler Durden
In an op-ed written late last week in the Washington Post, Kashkari made his argument that throwing as much money at the problem as possible, even if we don't have a complete understanding of where that newly-printed cash is going, is the solution.
In other words, we've got the cash and so now, we can be the moral authority as well.
Kashkari stated: "If there is a principle policy makers need to keep in mind going forward, it's this: Err on the side of helping as many workers and businesses as possible rather than on prudence. This is not the time to worry about moral hazard or whether people are incentivized not to work."
He continued: "When the Covid-19 crisis is behind us, if our biggest complaint is that some workers and small businesses got help when they didn't really need it, that would be a wonderful outcome for our country."
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