Fed's Kaplan Expects Virus to Cause 'Substantial Contraction' in 2Q

The transcript discusses economic forecasts, predicting a significant GDP decline and a peak in unemployment rates. It explores potential recovery shapes, emphasizing the importance of fiscal responses. The impact on small and large businesses is considered, with a focus on demand and reconfiguration. Finally, it predicts changes in consumer behavior, highlighting increased caution and altered spending habits.

What are the implications of a slow recovery versus a V-shaped recovery?

What changes in consumer behavior are anticipated post-crisis?