Fed's Kaplan: Next two quarters are going to be very difficult

"The jury is out on the US economic growth in the fourth quarter because of the coronavirus," Dallas Federal Reserve President Robert Kaplan told Bloomberg on Tuesday. 

Additional takeaways

"We need to get through the next couple of quarters."

"Fiscal stimulus is going to run out; would not surprise me to see some extension sooner than later."

"Lack of new fiscal stimulus will hurt the economy, weaken spending."

"Next two quarters are going to be very difficult."

"Still hopeful that in spring, with the vaccine, will see a better economy."

"Downside risks growing with virus resurgence but we are optimistic in longer run."

Market reaction

These comments don't seem to be having a significant impact on the USD's performance against its rivals. As of writing, the US Dollar Index was virtually unchanged on the day at 92.83.