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