The bank expects economic growth of 6.6% in 2021, compared with a previous forecast of 6.4%, according to a report published on Saturday. Key BackgroundBidens plan includes another round of direct payments and a further enhancement of federal unemployment insurance, as well as $400 billion for efforts to fight the virus and $130 billion to help schools reopen. Larger boosts to disposable income and government spending imply stronger growth later in the year, the banks analysts wrote. Growing risks of wildfires have led insurers to drop thousands of homeowners in the most vulnerable areas, according to the California Department of Insurance. Insurers are bracing for about $4.3 billion in insured losses from Hurricane Zeta in the United States, catastrophe modeling company Karen Clark & Co said on Monday, adding that this year has seen a record number of named storms making landfall.
Disposable income and government spending imply stronger growth than a 6.5% boost to equity.
( z0 imply :ARG0 ( z1 and :op ( z2 income :ARG1-of ( z3 possible :ARG1 ( z4 dispose ) ) ) :op ( z5 spend :ARG0 ( z6 government-organization :ARG0-of ( z7 govern ) ) ) ) :ARG1 ( z8 have-degree :ARG1 ( z9 grow ) :ARG2 ( z10 strong :ARG1 z9 ) :ARG3 ( z11 more ) :ARG4 ( z12 boost :ARG1 ( z13 equity ) :ARG2 ( z14 percentage-entity :value 6.5 ) ) ) )
(z0 / imply-01
    :ARG0 (z1 / and
              :op1 (z2 / income
                       :ARG1-of (z3 / possible-01
                                    :ARG1 (z4 / dispose-01)))
              :op2 (z5 / spend-01
                       :ARG0 (z6 / government-organization
                                 :ARG0-of (z7 / govern-01))))
    :ARG1 (z8 / have-degree-91
              :ARG1 (z9 / grow-01)
              :ARG2 (z10 / strong-02
                         :ARG1 z9)
              :ARG3 (z11 / more)
              :ARG4 (z12 / boost-01
                         :ARG1 (z13 / equity)
                         :ARG2 (z14 / percentage-entity
                                    :value 6.5))))
Disposable income and government spending imply stronger growth than a 6.5 % boost to equity .
z3 :ARG1 z4
z2 :ARG1-of z3
z1 :op1 z2
z6 :ARG0-of z7
z5 :ARG0 z6
z1 :op2 z5
z0 :ARG0 z1
z0 :ARG1 z8
z8 :ARG2 z10
z8 :ARG3 z11
z10 :ARG1 z9
z8 :ARG1 z9
z14 :value 0
z12 :ARG2 z14
z8 :ARG4 z12
z12 :ARG1 z13