Fed’s Kaplan says U.S. economy will live with virus well into next year

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Economy4 hours ago (Oct 21, 2020 12:50PM ET)

© Reuters. FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan gestures during a news conference after of the True Economic Talks event in Mexico City

(Reuters) – Dallas Federal Reserve Bank President Robert Kaplan on Wednesday repeated his forecast for the U.S. economy to shrink about 2.5% this year and grow a strong 3.5% next year, adding that he expects the pandemic to continue to impact daily life well into next year.

“Let’s see what we can do to live with this virus,” Kaplan said in an online event with the Houston Hispanic Chamber of Congress, adding that wearing masks is a “far better alternative” to the mass lockdowns earlier this year.

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