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 are the projected unemployment rates mentioned in the text?

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What differing views are presented among Fed presidents regarding the economic recovery?

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What factors contributed to the strong US consumer before the economic downturn?

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What challenges does the speaker identify regarding consumer behavior post-recession?

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How does the speaker view the recovery of the economy in the second half of the year?

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