Economics
Fed’s Kaplan Says Virus Surge Threatens Next Two Quarters
- Economic outlook is strong once economy navigates beyond virus
- Dallas Fed chief says extending fiscal aid would help economy
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The U.S. economy is likely to have a strong recovery from the pandemic-induced slump in the second half of the 2021 though the resurgence of Covid-19 jeopardizes the next two quarters, Federal Reserve Bank of Dallas President Robert Kaplan said.
“We have a couple of very difficult quarters in front of us,” Kaplan said Tuesday in a virtual interview with Michael McKee at Bloomberg’s Future of Finance 2020 event. Citing business contacts, Kaplan said, “Over the horizon, the future looks bright and we’ll have a strong year next year but we have got to get through the next couple of quarters.”