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COVID-19 and the Minneapolis Fed: What we’re doing, how we’re working

Read President Neel Kashkari’s statement, updates from the Board of Governors, and additional COVID-19-related public health resources

March 17, 2020

Author

COVID-19 and the Minneapolis Fed: What we’re doing, how we’re working

The coronavirus continues to present a unique challenge for all of us in the Ninth Federal Reserve District and across the country. Here at the Minneapolis Fed, it has changed how we work and where we work. What has not changed is our commitment to fulfilling our public service mission.

As you can tell from our numerous articles, research papers, and real-time COVID-19 dashboard, during this difficult time our economists and writers have been dedicated to providing local, state, and federal policymakers, business and community leaders, and the general public with the kinds of critical information they are seeking.

Of course, as a member of the Federal Open Market Committee, I am deeply engaged in the critical actions the Fed is taking to support our nation’s economy. Every day, we monitor the spread of COVID-19 and assess its potential impact on our economy, both in the region and across the nation. We are united in our resolve to use our tools to achieve the goals Congress has assigned us: maximum employment and price stability.

Here in the Ninth District, we are focused on maintaining operations that are essential to keeping our economy and financial system functioning.

For example, at the Minneapolis Fed we’ve been tasked with the responsibility to manage the Paycheck Protection Program Liquidity Facility (PPPLF) for the Federal Reserve System.

We’re conducting our business while ensuring the health and well-being of our employees and their families in Minneapolis and Helena, Mont. Much of our workforce has the ability to work from home and is now doing so. I am thankful for their dedication to our mission of pursuing an economy that works for all of us.

As always, my goal—and that of the Federal Reserve System—is to remain open and transparent and do our part to support the U.S. economy and the American people.


Sincerely,

Neel Kashkari
Updated on May 5, 2020


COVID-19's impact on our district

Browse all our COVID-19-related articles


Ninth District Resources

We are committed to the communities that make up our district. Below are some resources to answer your additional COVID-19-related questions.

Public health agencies in the Ninth Federal Reserve District

Ninth District COVID-19 resources

We have assembled a list of resources for bank customers, financial institutions, nonprofits, small-business owners, homeowners and renters, and workers seeking guidance.

COVID-19 scams and frauds

As the federal government takes financial actions in response to the COVID-19 outbreak, consumers should be wary of fraudulent solicitations.


Federal Resources

During these challenging times the Federal Reserve system remains committed to its goals of promoting maximum employment and price stability.

Federal Reserve Board of Governors

Federal Reserve Bank Services

Centers for Disease Control and Prevention

Paycheck Protection Program Liquidity Facility (PPPLF)

Key information on the Paycheck Protection Program Liquidity Facility (PPPLF), managed by the Federal Reserve Bank of Minneapolis on behalf of the Federal Reserve System

Brookings: Fed actions explained

New York Fed actions


For economists

Tracking COVID-19 symptoms and impact in real time: A survey-based surveillance system

Minneapolis Fed media

Neel Kashkari Op-Ed: Big U.S. banks should raise $200 billion in capital now
Financial Times | Apr. 15, 2020

Podcast with Mark Wright
Economic Club of Minnesota | Apr. 15, 2020

Experts on reopening the economy: ‘There’s so much uncertainty’
MPR News | Apr. 15, 2020

Banker Neel Kashkari: ‘We’re going to have to slowly reopen things’
The Today Show | Apr. 14, 2020

Kashkari says Fed is being "as aggressive as possible" in coronavirus response
Face the Nation | Apr. 12, 2020

Minnesota was making gains on its housing shortage — then coronavirus hit
MPR News | Apr. 7, 2020

The U.S. knows very little about the spread of COVID-19. A Minneapolis Fed researcher has a proposal to fix that
MinnPost | Apr. 6, 2020

Ron Feldman Op-Ed: Just as in the financial crisis, only testing can save us
Star Tribune | Apr. 1, 2020

Neel Kashkari Op-Ed: What the 2008 rescue package can teach us about today’s relief bill
Washington Post | Mar. 27, 2020

‘It’s Much Better to Intervene Quickly’: Minneapolis Fed President Neel Kashkari on lessons learned from the financial crisis—and how they are being applied now
Wall Street Journal | Mar. 26, 2020

Coronavirus and the economy: Best and worst-case scenarios from Minneapolis Fed president
60 Minutes | Mar. 22, 2020

How To Save The Economy Now
Planet Money | Mar. 20, 2020

Coronavirus In Minnesota: Neel Kashkari Speaks On Economic Uncertainty
WCCO | Mar. 19, 2020

Video: Neel Kashkari on CNN
CNN | Mar. 18, 2020

Minneapolis Fed chief floats forgivable loans for small business
Star Tribune | Mar. 18, 2020

Minneapolis Fed President: Flatten the curve for the economy too
FOX9 | Mar. 17, 2020

Federal Reserve Bank expects recession but say they're well-positioned to help economy
KSTP | Mar. 17, 2020

Kashkari: From TARP to coronavirus
CNN | Mar. 17, 2020

Kashkari on the central bank’s coronavirus response
CNBC Squawk Box | Mar. 17, 2020


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