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The economy’s rebound could stall in the next two quarters, with output possibly shrinking in the fourth quarter, because of the resurgence of the coronavirus, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday.

Kaplan says that the Fed is buying $120 billion of bonds each month and should continue doing so, and potentially extend the maturities of its purchases if needed.

Kaplan explained that it’s “critical” the Fed keeps its emergency lending programs going into next year.

More to come…

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