- Dallas Fed president Kaplan: Interest rates will stay low for long and Fed will need to do more to bridge this period
Market news
1 May 2020
Dallas Fed president Kaplan: Interest rates will stay low for long and Fed will need to do more to bridge this period
- Says Fed's Main street program offers relief, not stimulus
- Main street facility is intended to bridge businesses through this period
- There will be need for more stimulus, likely from fiscal
- Likely to get 20% unemployment rate, to end year at rate of 8-10%
- U.S. could decline at 30% annual rate in Q2; contraction for the year likely 4.5-5%
- It will take until second half of 2021 or into 2022 to work off excess oil inventory
- In near term, disinflation is more likely than inflation
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