March 17, 2020 / 7:18 PM / in 21 days

Fed's Kashkari: Base case is mild recession like after 9/11

(Reuters) - Minneapolis Federal Reserve President Neel Kashkari said on Tuesday his base case threat to the U.S. economy from the coronavirus pandemic is a mild recession much like the one after the Sept. 11, 2001, attacks, but there is tremendous uncertainty about the outlook.

Speaking on CNN International, Kashkari said the coronavirus outbreak could quickly become “an economic crisis for America,” and he urged fiscal policymakers to take measures that help businesses retain workers whose jobs are now at risk because of the extreme containment measures being taken.

Reporting by Dan Burns; Editing by Sandra Maler

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