Fed's Kaplan: More fiscal aid will create positive upside to forecast

Dallas Fed Pres. Kaplan participating in a virtual event

Fed's Kaplan participating in a virtual event says:

• Downside risks include vaccine efficacy and virus variance
• Upside risks include bigger bouncing public confidence
• More fiscal aid will create positive upside to forecast
• Could see significant increase in economic activity before herd immunity
• Baseline growth forecast for 2021 is a 5%

Kaplan is a nonvoting member on the FOMC board in 2021