As most states began or moved toward reopening their economies this week, Federal Reserve Bank of Chicago President Charles Evans told reporters Tuesday that it is “reasonable” to expect that the economy will return to growth in the second half of the year.
He noted, however, that although he is hopeful that this is how the economy will play out, it may only be a slightly more likely scenario than other more pessimistic forecasts, which include a second wave of the disease necessitating another round of re-shuttering, and a much more extended downturn.
Considering that the coronavirus pandemic has not yet finished running its course, Evans also said he believed “the relaxing of the stay-at-home policies is a bold decision with pretty high risks,” adding that “the pickup in activity will likely be slow at first.”
