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JPMorgan sees Biden’s stimulus cutting unemployment to less than 5% by year end

unemployment k shaped recovery

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President-elect Joe Biden’s ambitious $1.9 trillion stimulus bill could help cut unemployment to nearly a third of its pandemic peak.

In his note on the week ahead, David Kelly, chief global strategist at JPMorgan Funds, wrote about how “conservative simulation of the impact of the plan” played out. That simulation assumes that the plan’s final cost is $1.5 trillion, and that $1.2 trillion of it will be dispensed between now and the end of September.

“In this simulation, the Biden rescue plan could boost nominal GDP growth to 11.4% year-over-year by the end of this year — details ⇒

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