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    Seth Golden posted an update 3 years, 4 months ago

    Based on cost estimates of the various provisions and applying the corresponding fiscal multipliers (Chart 1), Bank of America estimates that the new stimulus package will contribute approximately 2.7% to growth in 2021. The bank now expects that more of the stimulus impact will be frontloaded into 1Q (Chart 2). The start of the year has cross currents with weaker economic data but an earlier and more targeted fiscal stimulus (we had expected passage after inauguration). On balance, the bank now sees upside risk to the bank’s forecast of 1% GDP growth in 1Q.

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