After a devastating April that saw over 20 million Americans lose their jobs, the U.S. economy continues to see crippling impacts from the global coronavirus pandemic with no end in sight.
“Face the Nation” moderator Margaret Brennan is slated to lead a discussion with Federal Reserve Bank of Minneapolis President and CEO Neel Kashkari Thursday for a look at the economy’s current health and prospects for American recovery.
How to watch Margaret Brennan’s conversation with Neel Kashkari
- What: Margaret Brennan moderates Economic Club of Minnesota webinar with Minneapolis Fed President Neel Kashkari and Dr. Michael Osterholm, Director of the Center for Infectious Disease Research and Policy at the University of Minnesota
- Date: Thursday, May 14, 2020
- Time: 1-2 p.m. ET, airing on CBSN Minnesota at 2 p.m. ET and 8 p.m. ET
- Location: The Economic Club of Minnesota
- Online Stream: Live on CBSN Minnesota — in the player above and on your mobile or streaming device
Last month alone, payrolls fell by 20.5 million, leaving 23 million unemployed, the Labor Department said last week. The nation’s unemployment rate more than tripled, soaring to 14.7% from 4.4% in March — the highest since the Great Depression.
Prior to those astonishing numbers, Kashkari told “Face the Nation” the Fed and its chairman, Jerome Powell, were being “as aggressive as possible” as the nation grapples with the devastating economic fallout from the pandemic.
Kashkari said the nation should be looking at an 18-month strategy for the economy and health care system based on other countries further along in their recovery from the coronavirus outbreak, and acknowledged that while the U.S. economy cannot be shut down for that long, officials need to identify ways for those who are not infected with the coronavirus to return safely to work.
“We need to find ways of getting the people who are healthy, who are at lower risk back to work and then providing the assistance to those who are most at risk, who are going to need to be quarantined or isolated for the foreseeable future,” he said. “That’s a real challenge for all of us.”
© 2020 CBS Interactive Inc. All Rights Reserved.
