US economy needs stimulus or risks 'double-dip' recession: ex-Fed boss - Business Insider

US officials may need to ramp up fiscal stimulus to avoid a "double-dip" recession, former Atlanta Fed president Dennis LockhartIf authorities fail to control the virus and that results in further economic pain, a second downturn could be on the cards, Lockhart said.

However, the Federal Reserve has already cut interest rates to almost zero and indicated they will remain low for a while, and can't make "dramatic increases" to its asset purchases, he continued. "If there's going to be an effective effort to really ward off a worst-case scenario, particularly for portions of the American public that are most vulnerable, then it's going to come from the fiscal side," Lockhart added.

Lockhart, who served as the Atlanta Fed's president for a decade between 2007 and 2017, highlighted the

Pelosi flew over the whole country to save USPS, but didn’t want to hold a negotiation on the stimulus. So out of touch

A stimulus, as with those introduced previously, that will filter through to the upper echelons whom will use their newly acquired capital to purchase assets at (effectively) subsidised prices ... whilst the lower echelons see very little, likely no, benefit whatsoever.

They always slip in cutting taxes.

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