Fed's Kaplan Worries U.S. Consumers May Not Get Footing Back Until 2021

The transcript discusses the economic outlook amid a potential contraction in the second quarter, with unemployment possibly reaching mid to high teens. Despite differing views among Fed officials, the consensus is a recovery starting in the third quarter. The strong US consumer previously supported the economy, but high unemployment may weaken consumer spending, posing a challenge for recovery. The focus is on reducing unemployment to boost consumer confidence and economic growth.

What is the predicted unemployment rate by the end of the year according to the speaker?

• 12% to 14%

• 15% to 17%

• 5% to 6%

• 8% to 10%

Which economic sector was strong before the downturn, according to the speaker?

• Business Investment

• US Consumer

• Global Trade

• Manufacturing

What is the main concern of the speaker regarding the economic recovery?

• High inflation rates

• Weak consumer spending

• Rising interest rates

• Increased global trade

How does the speaker describe the expected recovery in the second half of the year?

• A rapid and immediate recovery

• A solid recovery from current levels

• A slow and steady recovery

• No recovery expected

What factor does the speaker believe will influence the pace of economic growth?

• Consumer confidence and spending

• International trade agreements

• Technological advancements

• Government policies