Economy

Dallas Fed President Kaplan stresses need for more spending to keep economic recovery going

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Dallas Federal Reserve President Robert Kaplan in a CNBC interview Tuesday backed more spending across a variety of fronts as the economy tries to shake off the Covid-19 pandemic effects.

President Joe Biden has proposed spending $1.9 trillion to provide more cash payouts and enhanced unemployment benefits to Americans, as well as a minimum wage hike, funding for vaccine programs and aid to schools along with state and local governments.

Congressional Republicans have set forth a more modest $618 billion plan that would provide lower direct payments and no funding for state and local governments.

While not endorsing either plan, Kaplan said additional fiscal help is needed for an array of…



Source cnbc.com

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