Economics

Fed Officials Cautious on Recovery, Risks Include ‘Depression’

Dallas Fed chief tells Bloomberg TV recovery may take a while
St. Louis’s Bullard warns ‘depression’ among possible outcomes

Fed’s Kaplan 'Open-Minded' About Expanding Emergency Programs

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By Catarina Saraiva, Matthew Boesler, and Steve Matthews

April 16, 2020 at 5:34 PM UTC

Updated on

April 16, 2020 at 8:26 PM UTC

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Federal Reserve officials offered a pessimistic view on the outlook for the U.S. economy, cautioning that a recovery will be slow to take hold once social-distancing measures are rolled back.

“It may take a while, and I mean into 2021, for the consumer to get his or her footing back,” Dallas Fed President Robert Kaplan said Thursday in a Bloomberg TV interview with David Westin.