Why Nomura is cutting its 2021 growth forecast to under three percent
Nomura has cut its 2021 growth forecast to 2.8 percent from 4.4 percent. Nomura chief economist Lewis Alexander joins 'Power Lunch' to discuss the new forecast, how a continued pandemic and depressed labor market could affect the numbers. Before the election, we were talking about fiscal support of $2 trillion, says Alexander. I think now, realistically, we're looking at a phase four deal of something like $500 billion. That's $1.5 trillion difference and that matters a lot to the economy, he says.