Neel "Crazy Eyes" Kashkari - Wrong in 2008, Wrong in 2020, Will Be Wrong Again in the Not Too Distant Future

From 60 Minutes 2020 interview: MARGARET BRENNAN: We turn now to Neel Kashkari, president and CEO of the Federal Reserve Bank of Minneapolis. He also led the Treasury Department's 2008 TARP program. He joins us from Minneapolis. Thank you for joining us. Clearly, you know what a crisis is like and how to navigate one. I want to ask you about the jobs crisis right now, because 16 million Americans have filed for unemployment since these restrictions went into place due to the virus. The St. Louis Fed says we could see 47 million Americans losing their jobs. Where is your prediction of a bottom? - continued: MARGARET BRENNAN: Right. And- and the Fed is part of this strategy because as we've detailed this week, there are about 2.3 trillion dollars in loans that the Federal Reserve that you're part of could issue to businesses, to states and to local governments. You said in- in the last crisis that the mistake was going sort of too small and being too timid. This time around, is there enough money being thrown at this problem? KASHKARI: I think there is in terms of what the Fed can do. I think our chairman is being very, very aggressive. He's learned from our experience in 2008 and the whole Federal Reserve is being as aggressive as possible. That's the right thing to do. I think Congress is also being very aggressive. But again, it goes back to the progression of the virus. If we're going to have economic distress until we have a vaccine, then it's going to be up to Congress to keep coming back to provide support to the American people. We can't shut down the economy for 18 months, but 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. That's a real challenge for all of us.