Fed's Kaplan: US economy has bottomed, expects growth in H2

Author: Adam Button | Category: Central Banks

Comments from the Dallas Fed President:

Comments from the Dallas Fed President:
  • Expects growth in H2 and 2021
  • Growth forecast assumes consumers are willing to travel, eat out and broadly re-engage in economy
  • Massive increase in testing is critical for re-engagement
  • Sees downside risks to forecast without ramped up testing
  • Under baseline, unemployment falls to 10-11% by year-end, under 7% by year-end 2021
Comments in an interview with Reuters.

Harker also spoke but didn't talk about the economy.

Unemployment is forecast to rise to nearly 20% in next month's non-farm payrolls report. That's double the financial crisis but it look 3 years to get back to 7% and Kaplan is predicting a much quicker rebound this time. That's key.
US unemployment
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