Economics may be the so-called dismal science, but the latest forecast of ABA’s Economic Advisory Committee — with GDP growth projected at 7.2% for 2021 and 3.1% in 2022 — is anything but. On the latest episode of the ABA Banking Journal Podcast — sponsored by Finastra — EAC Chair and TD Bank Group Chief Economist Beata Caranci discusses the committee’s forecast. Among other topics, Caranci explores:
- Projections of inflation to exceed the Federal Reserve’s 2% target.
- The role of consumer savings in driving the recovery.
- How long the EAC expects it to take to return to full employment, and why many people over 55 are dropping out of the labor force.
- Why economists are seeing a much faster snap-back in business investment than expected and a post-pandemic uptick in entrepreneurship.
- How changes in supply chain management, such as onshoring, may effect growth and investment.
This episode is sponsored by Finastra.
If you can’t see the audio player above, click here to listen to this episode.
In this episode:
Beata Caranci
Chief Economist
TD Bank Group
Hugo Dante
Economic Research Specialist
ABA
Evan Sparks
Editor-in-Chief
ABA Banking Journal
