Key highlights

• The US economy started to recover in May and this appears to have continued into June.
• There has been an increase in the number of COVID-19 cases, raising the risk of delays to further easing of restrictions in some locations, or even a re-imposition of restrictions.
• The Fed is likely to move to outcome or date based forward guidance but the bottom line is that the fed funds rate will stay at its current level for a long time.

Find out more in NAB’s US Economic Update – June 2020