Fed’s Kaplan Expects U.S. Economy to Grow by 5% or More

President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Monday that he expects the United States economy to register a growth rate of 5% in 2021, Reuters reported.

Kaplan noted that he might be underestimating the recovery of the American economy from the Coronavirus crisis.

“If we are wrong, the risks are to the upside, we may grow faster.”

In addition, Kaplan expects the unemployment rate to decrease from its current level of 6.3% to less than 4% by 2022.