Webinar: Great Expectations for the US Economy in 2021
February 1, 2021 |
The C2FO Team
Key indicators paint a hopeful picture of continued economic revival, but a successful vaccine rollout will be crucial.
The economic rebound in the second half of last year and the rollout of new vaccines bring hope that the US economy’s recovery will continue in 2021.
Still, the future remains unsettled as new strains of COVID-19 arise, a new president settles in and unemployment remains high.
Eric Kelley, executive VP and director of research and fixed income for UMB Bank, prefers to take the positive view. If COVID-19 vaccines work and the pandemic subsides this year, the US economy could return to the same level of GDP growth that Americans enjoyed in 2019 and early 2020.
“There’s cause for optimism out there,” Kelley said. “Despite everything that’s happened, it’s a decent story, we think.”
Our Jan. 27 economic update webinar examines what the coming months may bring for the economy. Kelley walks through key variables like consumer confidence, labor statistics, global debt and COVID-19 cases. Kerri Thurston, chief financial officer for C2FO, shares her unique perspective on how companies of all sizes are responding to the economic climate.
Discussion topics include:
- The impact of President Joe Biden’s proposed $1.9 trillion stimulus package, as well as the president’s plan to raise corporate tax rates.
- The prospect of vaccines bringing normalcy back for people and businesses in the latter half of 2021.
- “Things that make you go ‘hmmmmm’” — like climbing stock market valuations in the midst of the pandemic and the trillions of dollars of cash that remain on the sidelines.
- How a rebound in the manufacturing sector worldwide signals that better times are ahead.
- An anticipated 50% growth in the amount of funding on the C2FO platform for 2021 as the economy continues to recover.
- How the unprecedented level of spending by the US government to fight the pandemic may lead to a 25% deficit by year’s end and could spark inflation in the coming years.
- The long-term strain on the federal budget and how it may require spending cuts and tax increases over the next 20 years.
About the presenters
Eric Kelley has been with UMB Bank for more than 20 years, all of which he has spent in asset management. He is responsible for oversight of UMB’s research department and directs product development and strategy for the Fixed Income group. Eric also sits on the bank’s ALCO committee and Economic Research team.
Recently named a 2020 CFO of the Year by The Kansas City Business Journal, Kerri Thurston leads the accounting, finance and human resource functions for C2FO. As C2FO continues to expand worldwide, Kerri also focuses on strategic growth initiatives and cost-saving strategies. Prior to C2FO, she served as the global controller for Garmin, an S&P 500 technology company, with a strategic focus on global growth initiatives and cost efficiencies.
For more information about how C2FO can help you take control of your cash flow, visit https://www.c2fo.com/amer/us/en-us/for-vendors.