Fed's Kaplan Worries U.S. Consumers May Not Get Footing Back Until 2021

The transcript discusses the economic outlook amid a potential contraction in the second quarter, with unemployment possibly reaching mid to high teens. Despite differing views among Fed officials, the consensus is a recovery starting in the third quarter. The strong US consumer previously supported the economy, but high unemployment may weaken consumer spending, posing a challenge for recovery. The focus is on reducing unemployment to boost consumer confidence and economic growth.

What are the projected unemployment rates mentioned in the text?

What differing views are presented among Fed presidents regarding the economic recovery?

What factors contributed to the strong US consumer before the economic downturn?

What challenges does the speaker identify regarding consumer behavior post-recession?

How does the speaker view the recovery of the economy in the second half of the year?