Financial experts predicting the biggest US economic boom since 1946

Financial experts predicting the biggest US economic boom since 1946

Source www.businessreport.com

Still, total output shrank so much—by a stunning 3.3% in total—that there’s now an unprecedented amount of slack in the global economy. In other words: The world has more potential upside than ever. Governments’ actions in response to the pandemic raised global GDP growth by a full six percentage points, estimates the IMF, adding that “the global growth contraction last year could have been three times worse than it was.”

The biggest names in finance are making increasingly bullish predictions. JPMorgan CEO Jamie Dimon said Wednesday in his annual shareholder letter, closely watched on Wall Street: “This boom could easily run into 2023 because all the spending could extend well into 2023.” Read the full story. This is likely to be a global phenomenon, because Biden administration spending will have ripple effects around the world, and overseas bank accounts also have grown during COVID. 

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