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Banker Neel Kashkari: ‘We’re not headed for another Great Depression’


Speaking to TODAY about grim new unemployment numbers coming out, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, says they may “actually understate how bad the damage has been … it’s devastating.” But, he adds, “I don’t think we’re actually headed for another Great Depression,” predicting instead a “a long, gradual recovery” whose pace will be dictated by the coronavirus.