(Reuters) – U.S. banks got their second bailout in little more than a decade when Congress cut checks to millions of Americans to help them through the coronavirus crisis, Minneapolis Federal Reserve President Neel Kashkari said on Friday, calling for a new round of reforms to prevent it from happening again.
“I applaud Congress’ bold actions to support people affected by the COVID-19 crisis, but we need to be clear that families weren’t the only beneficiaries,” Kashkari send in remarks prepared for delivery to a Council of Institutional Investors conference. “This was also a banking bailout.”
(Reporting by Ann Saphir; Editing by Paul Simao)
