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Resurgence of Virus is Muting Economic Recovery, More Aid Needed

NEW YORK (Reuters) – The resurgence of coronavirus infections has muted the economic recovery and Congress needs to support the economy by continuing to provide enhanced unemployment benefits and aid to state and local governments, Dallas Federal Reserve Bank President Robert Kaplan said on Wednesday.

“I believe the economy needs a continuation of the unemployment benefits,” Kaplan said during an interview with CNN. “It may not need to be in the same form as it currently is, but we need a continuation.”

Kaplan declined to say exactly how much aid he thinks lawmakers should provide, but he said the support, along with widespread use of masks, is critical to helping the economy recover. Read more…

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