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- Dallas Fed resident Kaplan: Downside risks growing with virus resurgence but we are optimistic in longer run
Dallas Fed resident Kaplan: Downside risks growing with virus resurgence but we are optimistic in longer run
- We need to get through the next couple of quarters
- Businesses will be optimistic once the virus is behind us
- Fiscal stimulus is going to run out; would not surprise me to see some extension sooner than later
- Failing to extend some fiscal aid would hit economy
- Financial conditions are relatively loose
- Next two quarters are going to be very difficult
- Still hopeful that in spring, with the vaccine, will see better economy
- Sees 3.5% GDP growth in 2021, mostly coming later one
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