Fed's Evans says 'reasonable' to expect US growth in second half of 2020

REUTERS: Chicago Federal Reserve President Charles Evans said on Tuesday it's"reasonable" to expect the US economy to return to growth in the second half of the year, but that such an outcome is only slightly more likely than other, more pessimistic views.

If all goes well, he said, unemployment - expected to rise to double digits this quarter - could be back down to 5 per cent by the end of next year. Such a scenario"involves a lot of things going right ... it takes commitment, and it takes patience too; patience is hugely on short supply." Reopening the economy while the pandemic continues, Evans warned, is a"bold decision with pretty high risks," adding that policymakers will have a better idea of the outlook by the summer.Evans said he didn't think there would be a reason to raise interest rates for"quite a long time."

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