BofA: US economy to the moon!

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Via BofA:

You want to know what 6% growth feels like?

We have become increasingly convinced of the prospects for exceptional growth this year. We came into the year with an above-consensus forecast of 4.5% which was boosted to 5.0% upon the earlier passage of stimulus. As warned, we are taking another leap forward and forecasting 6.0% growth this year. The good news doesn’t end this year: we now expect 4.5% growth in 2022, up from our prior forecast of 3.0%. The growth trajectory will be hump-shaped this year with acceleration in 2Q and the peak growth rate reached in 3Q. This isn’t without risks: if the virus isn’t contained by the summer, our forecasts will prove too optimistic.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.