Fed's Kaplan: People will likely be social distancing through all of 2021

Once the coronavirus pandemic is over, the US will need to moderate debt growth, Dallas Federal Reserve President Robert Kaplan argued on Tuesday, as reported by Reuters.

Additional takeaways

"Rebound next year will be back-end loaded, as vaccine helps open the economy."

"People will likely be social distancing through all of 2021."

"US universities may become more of an international magnet again in the next few years."

"Another round of Paycheck Protection Program (PPP) would be very helpful."

Market reaction

The market mood remains sour after these comments and the S&P 500 Index was last seen losing 0.6% on the day at 3,528.