Fed's Kaplan remarks crossing - sees GDP contraction in 2020, growth in 2021
Nothing much of note from Dallas Fed head Kaplan.
- he expects q3 to rebound by 30% annualized and between 6-9% in q4
- expects economy to contract by about 2.5% in 2020 and grow by approximately 3.5% in 2021
- GDP has shifted to other sectors less sensitive to person to person contact
- women with high school education or less are suffering more economically than male counterparts
- we're going to have a lot of work to do to get underrepresented groups back into the labour force