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Minneapolis Fed prez Kashkari: ‘I don’t think we’re actually headed for another Great Depression’

Neel Kashkari
REUTERS/Ann Saphir
Neel Kashkari
Well that’s good. From an interview on TODAY: “Speaking to TODAY about grim new unemployment numbers coming out, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, says they may ‘actually understate how bad the damage has been … it’s devastating.’ But, he adds, ‘I don’t think we’re actually headed for another Great Depression,’ predicting instead a ‘a long, gradual recovery’ whose pace will be dictated by the coronavirus.”

Not good. The Pioneer Press’ Josh Verges reports:St. Paul school board chairwoman Marny Xiong and her father both are critically ill with COVID-19, according to a public Facebook post by her sister. … Xiong, 31, and her father are ‘relying heavily’ on a ventilator to breathe, Amee Xiong wrote Friday morning.”

Minnesotans slacking on social distancing? WCCO reports: “In late March, as social distancing and stay-at-home orders were still relatively new, a survey found that Minnesota merited top marks for adhering to those policies. … Now, as we stand entering the third month, it appears that Minnesotans are no longer at the head of the class.

Logistics’ll get you every time. Also from ’CCO: “Former Minnesota Gov. Jesse Ventura announced Friday morning that he is not going to pursue a Green Party presidential bid in the race against incumbent President Donald Trump. … ‘Unfortunately logistics are not going to allow that to happen,’ he said Friday morning.”

In other news…

County fair canceled:Ramsey County Fair canceled due to COVID-19 pandemic” [KSTP]

Way to use your noodles:Minneapolis Ramen Restaurant Raises $2,700 Through Pay-What-You-Can Menu” [WCCO]

Good question:Why are Minnesota’s pro teams named after the state, not a city?” [Star Tribune]

Cheers to this:Minnesota distilleries fund one million food bank meals, one bottle of sanitizer at a time” [City Pages]

License sales are up 44%:Explosion of Minnesota fishing licenses among teens adds new wrinkle to opener” [Star Tribune]

Sorry, eh:Border closed, Ontario walleye opener will be off-limits to Yanks” [Duluth News Tribune]

Comments (3)

  1. Submitted by RB Holbrook on 05/08/2020 - 12:23 pm.

    “Logistics” is just another way of saying “public reaction that ranges from utter indifference to outright ridicule.”

  2. Submitted by Tom Anderson on 05/08/2020 - 06:41 pm.

    Anyone who has been at a big box store knows that “social distancing” is a joke. The COVID 19 results we have now are based on “pretty much shopping as usual” and I hope that the Governor realizes that.

  3. Submitted by Jeanne Larson on 05/09/2020 - 10:06 am.

    This pandemic is an opportunity to grow our economy. We can shift from service and information industry to a green manufacturing industry and biotechnology becoming once again a world leader in health; environmentally, economically and personally. Let’s start investing in hope and moving humankind forward instead of always looking backward. We have the power and the grit to create change and a new normal for us all!

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