Federal Reserve’s Evans sees the US jobless rate at 9.5% at the end of 2020, 6.5% at the end of 2021 in baseline outlook.
- More pessimistic forecasts are ‘equally’ likely.
- Monetary policy is about where it can be.
- Ball is in Congress’ court on economy.
- Sees ‘aggregate demand trouble brewing’ without extension of fiscal supports like jobless benefits.
More to come…