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US Outlook Webinar: Comeback in the Midst of Huge Uncertainty The Conference Board of Canada, November 10, 2020 Recorded Webinar by Kip Beckman

US Outlook Webinar: Comeback in the Midst of Huge Uncertainty

The Conference Board of Canada, November 10, 2020
Recorded Webinar by Kip Beckman

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The U.S. economy is starting to emerge from the devastation created by the COVID-19 pandemic. While real GDP dropped by more than 30 per cent in the second quarter of 2020, we expect a sharp rebound in growth in the second half of this year and into 2021. However, our outlook depends crucially on a successful containment of the virus, something that has turned out to be challenging especially in Southern states like Florida. The resurgence of COVID-19 has forced additional shutdowns of some retail and other outlets and this led to a slowdown in the recovery of U.S. labour markets. In this turbulent environment, join us for this 60-minute webinar in which The Conference Board of Canada’s Principal Economist Kip Beckman will share his insights into the US economic outlook to help you make more effective business and policy decisions. Webinar Highlights U.S. economic activity will decline by more than 4.0 per cent this year, with most of the drop taking place in the second quarter. Next year a rebound in growth to close to 5.0 per cent is anticipated. Interest rates will remain at rock bottom levels until at least the beginning of 2023 due, in part, to the subdued inflation outlook. The fiscal deficit will increase to a shocking plus $5 trillion this year because of the spending required to prevent the economy from tumbling into another Great Depression. The U.S. dollar will remain under downward pressure over the near term About Kip Kip Beckman oversees The Conference Board of Canada's forecasts of the U.S. and world economy. This involves producing eight quarterly reports. Kip also does a number of speaking engagements throughout the year dealing with the state of the global economy. He is a regular contributor to the Board's Economics blog.

The U.S. economy is starting to emerge from the devastation created by the COVID-19 pandemic. While real GDP dropped by more than 30 per cent in the second quarter of 2020, we expect a sharp rebound in growth in the second half of this year and into 2021. However, our outlook depends crucially on a successful containment of the virus, something that has turned out to be challenging especially in Southern states like Florida. The resurgence of COVID-19 has forced additional shutdowns of some retail and other outlets and this led to a slowdown in the recovery of U.S. labour markets.

In this turbulent environment, join us for this 60-minute webinar in which The Conference Board of Canada’s Principal Economist Kip Beckman will share his insights into the US economic outlook to help you make more effective business and policy decisions.

Webinar Highlights

U.S. economic activity will decline by more than 4.0 per cent this year, with most of the drop taking place in the second quarter. Next year a rebound in growth to close to 5.0 per cent is anticipated.
Interest rates will remain at rock bottom levels until at least the beginning of 2023 due, in part, to the subdued inflation outlook.
The fiscal deficit will increase to a shocking plus $5 trillion this year because of the spending required to prevent the economy from tumbling into another Great Depression.
The U.S. dollar will remain under downward pressure over the near term

About Kip

Kip Beckman oversees The Conference Board of Canada's forecasts of the U.S. and world economy. This involves producing eight quarterly reports. Kip also does a number of speaking engagements throughout the year dealing with the state of the global economy. He is a regular contributor to the Board's Economics blog.

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