(Reuters) – Dallas Federal Reserve President Robert Kaplan on Monday said that despite what he expects to be a challenging next few months because of surging coronavirus cases, the U.S. economy probably isn’t going to shrink this quarter and will deliver 5% growth for the year as the whole.
Unemployment will likely drop to 4.5% or 4.75% by the end of the year, from 6.7% now, Kaplan said in a virtual town hall event.
(Reporting by Ann Saphir; Editing by Leslie Adler)
