Fed's Kaplan is speaking
- The 1Q quarter will be very challenging but will have positive GDP growth
- He expects unemployment to fall to 4.5% by the end of 2021
- Forecast assumes steady increase in vaccinations
- Could see growth greater than 5% this year if see further fiscal support
- Expects to get back to normal by, engagement first quarter of 2022 in terms of mobility, engagement
- As we come out of this pandemic, will be critical to take actions to help women reenter the workforce
- He expects US production of oil and gas to be flattish this year, take until 1st quarter 2022 for supply/demand to get into balance
- He believes that there will be substantial demand for oil and gas for decades to come
- he expects enthusiastic debates at the FOMC to figure out when we think we've reached the benchmark
- once we've whether pandemic, would be healthy to wean off of extraordinary measures
- must be aggressive while still in the teeth of the pandemic
Kaplan is the president of the Dallas Fed
