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U.S. already in recession, national economic panel says

The median forecast of the National Association for Business Economics survey calls for annualized real GDP growth of -2.4% in Q1 and -26.5% in Q2 2020. After modest growth of 2% in Q3, the median forecast calls for growth to strengthen to 5.8% in Q4 and 6% in Q1 2021.

‘The recovery could turn out stronger than expected’

Excerpts from Federal Reserve Bank of New York President William Dudley’s prepared remarks Oct. 15 at the National Association for Business Economics annual meeting in New York City, addressing reasons for the disappointing economic recovery and tools yet available to policymakers.