Fed's Kaplan: Expecting a good, slow recovery in 3rd and 4th quarters

Dallas Fed President Robert Kaplan told Bloomberg News on Wednesday that the expects a "good, slow" economic recovery in the third and the fourth quarters. 

"For the economy to recover faster, we need ubiquitous testing," Kaplan added. "Without a national testing push, unemployment will be more elevated than otherwise."

Market reaction

These comments had little to no impact on market sentiment. As of writing, the Dow Jones Industrial Average was up 1.2% on the day and the Nasdaq Composite was gaining 1.6%.