(Reuters) – U.S. unemployment will likely decline to below 8% “maybe even 7%” by the end of the year, St. Louis Federal Reserve Bank President James Bullard predicted Wednesday, with most employees recalled to their jobs in the next 90 days.
“I’m still pretty optimistic in my base case about the recovery,” Bullard told CNBC in an interview, adding that businesses are adapting to new conditions and will learn to cope with the virus well before a vaccine is available. “I think masks will become ubiquitous throughout the economy and… fatalities will go way down.”
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)
