Off The Wire
Fed's Kaplan says U.S. economy could see robust growth after pandemic
(Reuters) - The U.S. economy could see strong growth after it emerges from the coronavirus pandemic but the distribution of vaccines will need to beat the new variants of the virus spreading now, Dallas Federal Reserve Bank President Robert Kaplan said on Wednesday.
"Once we do emerge, we're going to have very robust growth," Kaplan said during a virtual discussion organized by UBS. Kaplan said the U.S. economy could grow by 6.5% in 2021 and that he expects the unemployment rate to approach 4% by year end.
Reporting by Jonnelle Marte, Editing by Franklin Paul