Surveillance: OECD Cuts 2021 Global Forecast
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 1 December 2020
⏱️ 27 minutes
🧾️ Download transcript
Summary
Laurence Boone, OECD Chief Economist, says virus vaccines offer hope for a brighter outlook. Troy Gayeski, Skybridge Capital Co-CIO, says equity gains may be much harder to come by following November's record rally. Ethan Harris, BofA Securities Head of Global Economic Research, expects a stimulus package to be the only serious piece of legislation to be passed in the next two years. Dr. Jodie Guest, Emory University Rollins School of Public Health Department of Epidemiology Vice Chair & Research Professor, says there is light at the end of the tunnel for the end of the pandemic, but we are not there yet.
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| 0:33.0 | Daily, we bring you insight. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene. |
| 0:43.0 | Daily, we bring you insight from the best in economics, finance, investment, and international relations. |
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| 0:57.1 | Looking ahead to 2021, the outlook not getting better if you're at the OECD. |
| 1:02.6 | What's going on? |
| 1:03.1 | The outlook from Lawrence Boone, the chief economist, |
| 1:05.2 | joins us right now. |
| 1:06.2 | Lawrence, talk to me about 2021 and why you've had to cut that forecast. |
| 1:10.1 | So as you know, we're still in the midst of the pandemic and we're having a second wave with many countries in the northern hemisphere and as well as you know having the pursuit of the first wave in some other countries so |
| 1:23.7 | 2021 is still very much affected by what's happening now in the first quarter. |
| 1:29.6 | Now with the vaccines inside there is much hope and I think the outlook will be brighter. |
| 1:36.8 | We project a recovery in 2021. |
| 1:40.3 | As you know it will be a little more than 4%. That won't be enough to have said the recession we have in 2020. |
| 1:47.6 | But it's a big step towards a brighter future. |
| 1:51.0 | What will be super important is that policies keep the support on the |
| 1:55.9 | health and the fiscal side so that we can achieve better recovery once once the |
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