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Minneapolis Fed Chief Backs Forgivable Loans

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Federal Reserve Bank of Minneapolis chief Neel Kashkari told 60 Minutes that giving forgivable loans to small businesses that retain their workers would be one of the better way to prevent a financial crisis fighting the coronavirus pandemic. Avoiding mass layoffs, he said, is better than trying to pull people back into the workforce, which can take years.

Said Kashkari: “Unemployment insurance is important. But it would be much better and much better for the taxpayers and for the country to keep small businesses operating and to keep them with their employees intact.”

“Kashkari knows what it takes to pull the country out of financial hardship. As Assistant Treasury Secretary in 2008, he ran the $700 billion Troubled Asset Relief Program, known as TARP, which helped end the Great Recession.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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