Dallas Federal Reserve Bank President Robert Kaplan said that he expects the economy to grow in the third and fourth quarters but sees the annual growth to be around -4.5%-5%.
“If we all wear a mask, the US economy would grow faster,” Kaplan told Fox Business Network. “In the future, there will be a point when the Fed will need to show restraint but its actions are appropriate during the current crisis.”
Finally, Kaplan reiterated that the key to the economic recovery will be muting the spread of the coronavirus.
Market reaction
The US Dollar Index showed no reaction to these comments and was last seen losing 0.06% on the day at 96.72.
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