Dallas Federal Reserve branch head Kaplan in a webinar discussion on the economy.
- says US economy in midst of rebound out of deep contraction
- risk is that resurgence of coronavirus could overwhelm hospital systems, leading to lockdowns
- says trends are in the wrong direction on covid
- says base case is for 2.5% contraction this year, but real downside risks because of virus
- says as get through 2021, expect to grow faster; basecase is for 3.5% growth in 2021
- US contraction will be smaller than in many parts of the world because of large fiscal and monetary response
more to come
