Fed's Bullard sees potential for 'sort of' full recovery by year-end

St. Louis Fed President James Bullard expects the U.S. economic rebound to continues "as businesses learn how to produce products and services safely using simple, existing technology," he said via webinar for the Global Interdependence Center.

He suggested that the economy could reach the average level of aggregate national income of 2019 by the end of 2020.

"For this to happen, real GDP would have to grow 35% at an annual rate in the third quarter, followed by about 10.3% at an annual rate in the fourth quarter," he said. "These are big numbers, but not outside the realm of possibility.

Current data suggests that April represented the trough in the crisis, he said, pointing out that the Citi economic surprise index indicates substantial upward surprise in macroeconomic data releases in recent months.

"Very rapid third-quarter GDP growth may put the U.S. economy within reach of a sort of 'full recovery' by the end of 2020," he said.

https://seekingalpha.com/news/3617093-feds-bullard-sees-potential-for-sort-of-full-recovery-year-end