Market Perspective

Webinar: The Road to Economic Recovery

September 28, 2020
The C2FO Team

Is the US economy bouncing back? This webinar examines what to expect in the next one to two years.

Six months after the coronavirus pandemic forced a nationwide shutdown, the economic picture for the United States remains cloudy. Is the recession ending, or not? What challenges stand in the way of a return to economic stability?

In our Sept. 23 economic update webinar, “What Does the Road to Recovery Look Like,” Eric Kelley, executive VP and director of research and fixed income for UMB Bank, covers key economic variables like consumer confidence, labor statistics, global debt and COVID-19 cases, and examines what they mean for the next one to two years of US economic growth. Kerri Thurston, chief financial officer for C2FO, also shares her perspective on how companies of all sizes are responding to the uncertain economy.

Encouraging signs

According to Kelley, the economic recovery has already begun.

“We’re headed for a large rebound. GDP growth rates for the third quarter… are definitely going to be strong numbers. We’re looking at double-digit numbers for the third and fourth quarter,” he said. “It’s looking like we’re on the road to recovery. We’re certainly not back to where we used to be, though.” 

Key points from this hour-long webinar discussion include:

  • Despite a strong rebound in the second half of the year, overall growth for much of the economy is projected to be -4% to -5% for 2020.
  • Stimulus spending by the federal government helped stabilize the economy in 2020, but political infighting may delay another stimulus until after the Nov. 3 presidential election. 
  • A declining number of COVID-19 cases and lower death rates nationwide bring hope that the pandemic is starting to ease. 
  • US unemployment, currently at 8.4%, is expected to stabilize around 6% moving into 2021 and 2022. 
  • Inflation due to trillions of dollars in government aid is not an immediate concern, but could be a bigger story for the US economy in three to five years.    

To view the full webinar, click here.

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.

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