US Economic Update – August 2020
Growth is set to bounce back in Q3, but the recovery lost momentum through July/August.
Key highlights
- Growth is set to bounce back in Q3, but the recovery lost momentum through July/August following a surge in COVID-19 cases and reimposition of some restrictions. More positively, case numbers have declined since late July.
- We still expect that a full recovery will take a long time.
- The Fed has moved to flexible average inflation targeting, reinforcing our expectation that the fed funds rate will remain unchanged at least through to end-2022.
- Fiscal policy and the future path of the virus remain key risks.
Find out more in NAB’s US Economic Update – August 2020.
About the Author
NAB’s Group Economics consists of a leading team of economists who provide accurate, timely and relevant updates on domestic, international and industrial economic trends.
Headed up by the Group Chief Economist, Alan Oster, the team is comprised of three distinct departments:
- Australian economics and commodities
- International economics
- Industry economics
The team publish a wealth of content including reports, surveys, forecasts and indexes.
