Dallas Fed President Robert Kaplan said the US is “on our way down right now” with unemployment. “We’re going to get positive job growth in June, July and from here,” he added. However, “even with that growth, we’re going to end the year with an elevated unemployment rate.” He expected unemployment rate to end 2020 at 8% or above.
Kaplan also urged that it’s “critical” for people to “widely” wear masks, with good coronavirus testing and contract tracing implemented in the society. “The extent we do that well will determine how quickly we recover. We’ll grow faster if we do those things well,” he said. “And right now, it’s relatively uneven.”