Fed’s Kaplan Expects 2.5% Contraction This Year

The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Wednesday that he expects the United States economy will shrink by about 2.5% in 2020, and then grow by 3.5% in 2021.

Kaplan expects the pandemic will continue to impact daily life well into next year, noting that the use of facemasks is a far better alternative than lockdowns.

“Let’s see what we can do to live with this virus.”