May 14, 2020 / 5:35 PM / 20 days ago

Fed's Kashkari: real unemployment rate is 24%-25%, need more fiscal help

May 14 (Reuters) - The true U.S. jobless rate is probably 24% or 25%, Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday, and with economic difficulties likely to last as long as 18 months, more help from Congress is needed.

“We are in the equivalent of an economic war,” Kashkari said in a webinar. “Money in the pockets of people who have lost their jobs is what we need right now.”

Reporting by Ann Saphir Editing by Chris Reese

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