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