Dallas Fed President Robert Kaplan said he expects the economy growth in Q3 and Q4. But still, he’s base case is for the economy to contract around -4.5% to -5% for 2020 as a whole. He reiterated that controlling the spread of the coronavirus is the key to economic recovery.

“How the virus proceeds and what the incidence is is going to be directly related to how fast we grow,” Kaplan said. “While monetary and fiscal policy have a key role to play, the primary economic policy from here is broad mask wearing and good execution of these health care protocols; if we do that well, we’ll grow faster.”

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