Fed's Kaplan: US economy would grow faster if we all wear a mask

Eren Sengezer FXStreet

Dallas Federal Reserve Bank President Robert Kaplan said that he expects the economy to grow in the third and fourth quarters but sees the annual growth to be around -4.5%-5%.

"If we all wear a mask, the US economy would grow faster," Kaplan told Fox Business Network. "In the future, there will be a point when the Fed will need to show restraint but its actions are appropriate during the current crisis."

Finally, Kaplan reiterated that the key to the economic recovery will be muting the spread of the coronavirus.

Market reaction

The US Dollar Index showed no reaction to these comments and was last seen losing 0.06% on the day at 96.72.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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