Dallas Fed President Robert Kaplan said the resurgence in coronavirus has “muted the recovery” of the economy. While unemployment rate could fall to 9% or below by year end, “it requires adherence to protocols particularly wearing masks…If we don’t follow that, while people may feel freer, the economy will grow slower.”

Boston Fed President Eric Rosengren also warned, “limited or inconsistent efforts by states to control the virus based on public health guidance are not only placing citizens at unnecessary risk of severe illness and possible death – but are also likely to prolong the economic downturn.”

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