Fed’s Robert Kaplan warns US economy could shrink again as Covid-19 surges
As the US experiences a surge of coronavirus infections, hospitalisations jump nearly 50% in two weeks
19 November 2020 - 20:40
Dallas — Dallas Federal Reserve Bank President Robert Kaplan on Thursday warned the US economy could shrink this quarter as consumers in more states and cities pull back from economic activity amid the record coronavirus case surge.
“It is possible we could have negative growth if this resurgence gets bad enough and mobility falls off enough,” he said, pointing to a drop in activity already visible in places such as El Paso, Chicago, Utah, Wisconsin, and Colorado. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.