4.7.21
In a Wall Street Journal interview, Federal Reserve Bank of Dallas President Robert Kaplan stated the economy still needs central bank support as it overcomes the pandemic. However, Kaplan notes that to keep the economy on track for robust economic growth, the Fed should begin to withdraw monetary support soon after the pandemic is determined to be over. With the steady rollout of the vaccine underway Kaplan believes, “There’s reason to be optimistic about the future…Having said that, I would also emphasize it is my view that we’re not out of the woods yet.” Kaplan expects the U.S. economy to grow by 6.5% in 2021 and the unemployment rate to drop to 4%.