HOUSTON, Oct. 28, 2020 /PRNewswire/ -- The BBVA
Research team has published its Economic Outlook for fourth quarter
2020, anticipating that the pandemic and upcoming election could
add noise to the short-term outlook even as medium-term prospects
improve.
The report, published by the BBVA Research team headed by BBVA
Chief Economist Nathaniel Karp,
continues to highlight the ongoing economic impact of the
pandemic. According to its authors, significant fiscal and
monetary policy intervention did offset the economic fallout of the
pandemic, but those stimulus measures are fading. While its impact
on activity is declining, recovery from the pandemic remains
tenuous due to growing cyclical headwinds and waning stimulus. In
addition, as workers adjust to a new reality, seeing a rise in
permanent unemployment.
Regarding monetary policy, the team states that despite some
improvement in Fed sentiment, the shifts in goals and strategy
implies continued low rates for the foreseeable future. The Fed is
expected to continue fine-tuning its balance sheet plans as policy
shifts from stabilization to accommodation.
The BBVA Research publication further delves into fiscal policy,
commercial real estate, and the outlook for the banking industry,
which has seen massive expansion in deposits and policy support to
limit the deterioration of credit quality.
BBVA USA's research team
analyzes the U.S. economy and Federal Reserve monetary policy. For
its analyses, the economists create models and forecasts for
growth, inflation, monetary policy and industries. The Economic
Research team also follows a variety of issues that affect the
Sunbelt states where BBVA USA
operates. Follow their work on Twitter @BBVAResearch and
@BBVANews_USA.
Read the full report here.
See the complete library of BBVA Research publications here.
For more BBVA news visit, www.bbva.com and the U.S.
Newsroom.
Additional news updates can be found via Twitter and
Instagram.
For more financial information about BBVA in the U.S., visit
bbvausa.investorroom.com.
About BBVA
BBVA Group
BBVA (NYSE: BBVA) is a customer-centric
global financial services group founded in 1857. The Group has a
strong leadership position in the Spanish market, is the largest
financial institution in Mexico,
it has leading franchises in South
America and the Sunbelt Region of the United States. It is also the leading
shareholder in Turkey's Garanti
BBVA. Its purpose is to bring the age of opportunities to everyone,
based on our customers' real needs: provide the best solutions,
helping them make the best financial decisions, through an easy and
convenient experience. The institution rests in solid values:
Customer comes first, we think big and we are one team. Its
responsible banking model aspires to achieve a more inclusive and
sustainable society.
BBVA USA
In the U.S.,
BBVA is a Sunbelt-based financial institution that operates 641
branches, including 330 in Texas,
89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25
largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 8th nationally in
terms of dollar volume of SBA loans originated in fiscal year
2018.
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SOURCE BBVA USA