Fed's Kaplan says his base case is 2020 GDP decline of 4.5 to 5.0% in 2020
Kaplan on US growth in a Fox Business interview
- US has lots of excess capacity, expect disinflation
- He sees US growth in Q3 and Q4
- If we all wear a mask, the economy will grow faster
- In the future there will be a point when Fed will need to show restraint, but during current crisis it's actions are appropriate
Spoiler: The Fed will never show restraint.