Fed's Kaplan says he expects solid U.S. growth this year

DALLAS -- Dallas Federal Reserve Bank President Robert Kaplan said on Thursday that he expects “solid” economic growth this year, as easing trade tensions have lessened downward pressure on global growth, manufacturing and business investment.

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Kaplan worried last year that trade uncertainty would weigh on consumer spending more than it turned out to have done, he told a University of Texas at Austin’s McCombs School of Business group. But with the U.S. inking an initial trade deal with China, “we think we are going to have a solid year of growth in 2020” of about 2.25 percent, he said, though he added his outlook would be firmer were it not for the “wildcard” of the new coronavirus in China and the situation at Boeing, he said.

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