Fed’s Kashkari says U.S. economic recovery could take longer than hoped

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There could be a second wave of coronavirus infections in the fall – a shift that would increase the unemployment rate and slow down the economy recovery, Minneapolis Federal Reserve Bank President Neel Kashkari said on Friday.

“Unfortunately, my base case scenario is that we will see a second wave of the virus across the US, probably this fall,” Kashkari said during a Twitter chat moderated by CBS News. “If there is a second wave, I would expect the unemployment rate to climb again.”

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