Fed's Kaplan: US economy could grow next year by approximately 3.5%
|Dallas Federal Reserve President Robert Kaplan said on Wednesday that economic activity is shifting during the pandemic to sectors that do not rely on face-to-face interaction, and Americans most affected by job losses will need help getting back to work.
Kaplan said during a virtual discussion organized by the Dallas Fed that People in the industries hardest hit during the pandemic, including women and minorities, will need training, child care and other resources to return to the labour force,
''The US economy is likely to contract by about 2.5% in 2020 and could grow next year by approximately 3.5%'', he said.
Dollar implications
The market has priced much of this sort of rhetoric in already and the greenback could be on the verge of staging a recovery according to the following technical analysis:
Bullish Reverse Head & Shoulders?
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.