Kashkari wants bold response to protect economy

“Overreaction” is exactly the response the federal government and the Federal Reserve needs to adopt to combat the negative economic impact of the COVID-19 contagion, said Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, in a televised interview March 22. Reflecting on the Fed’s response to the 2008 economic collapse, Kashkari said “we … Read more

SBA to fund small business disaster loans in MN, WI

On March 21, the U.S. Small Business Administration announced that small businesses adversely impacted by the coronavirus in Minnesota and Wisconsin could immediately apply for low-interest Economic Injury Disaster Loans (EIDL). Under the EIDL program, direct loans of up to $2 million per business are immediately available, and no national or state caps on the … Read more

The past, digitized for future generations

The Federal Reserve Bank of St. Louis has long been invested in collecting banking data. It started in 1961, when the director of research distributed three charts. The positive feedback the Fed received spurred an initiative to collect and share research outside of the Federal Reserve system.  BankBeat recently became part of the tradition. [Continue]