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Executives are modeling their company s revenue to grow by nearly 7%
However, the assumption is based on a successful rollout of vaccines to combat COVID-19
Just days into 2021, chief financial officers at hundreds of U.S. companies are bullish on the macro environment and expect their businesses to recover in the coming years, The Wall Street Journal reported.
CFO survey
Duke University’s Fuqua School of Business in conjunction with the Federal Reserve Banks of Atlanta and Richmond surveyed around 300 CFOs. On average, the finance bosses are modeling their individual company’s revenue to rise by 6.9% in 2020. This represents a notable uptick from a 2020 outlook of just a 0.3% revenue increase.
Dec. 22, 2020 9:00 am ET
Chief financial officers at U.S. companies are optimistic the country’s economy as a whole and their businesses, in particular will recover in 2021 despite worries about potential tax rate changes and higher labor costs.
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Finance chiefs expect their companies’ revenue to rise by an average of 6.9% next year, up from a 0.3% increase forecast for 2020, according to a survey by Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta. Wages, prices and employment levels also are forecast to increase, the survey of about 300 CFOs found.
By Taikein Cooper, Jesús Gerena, Valaryee Mitchell and Tyonka Perkins Rimawi
How many times can we say that 2020 has been a year unlike any other? We remain fearful of the pandemic. Uneasiness about a bleak economic outlook due to declining employment and consumer spending persists. Many of our neighbors have been left wondering if they can put food on the table or if they will have a place to live.
Imagine if none of us had to worry about our hunger, homeless or recessions because we were guaranteed a minimum income? When millions of Americans suddenly were thrust into poverty at the onset of the pandemic, many more families and children were vulnerable to conditions we typically only associate with low income. In other words, the pandemic reinforced that these issues only are symptoms of the real disease â poverty.
Strengthening The Financial System To Meet The Challenge Of Climate Change, Federal Reserve Governor Lael Brainard At The Financial System & Climate Change: A Regulatory Imperative Hosted By The Center For American Progress, Washington, D.C. Date
18/12/2020
I want to thank the Center for American Progress for inviting me to join you in discussing climate change and the U.S. financial system.1 Let me start by noting these are my own views and do not necessarily reflect those of the Federal Reserve Board or the Federal Open Market Committee.
Climate change and the transition to a sustainable economy have important implications for the financial system. The financial system can be a powerful enabler to help the private sector manage climate-related risks and invest in the transition. It is vitally important to strengthen the U.S. financial system to meet the challenge of climate change.