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

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