Sully: Wall Street economists are growing bullish on US Economy

SAN DIEGO (KUSI) – The COVID-ravaged American economy was on the verge of slipping into a double-dip recession at the end of 2020.

The pandemic was intensifying, gridlock paralyzed Washington and millions of families were about to lose crucial benefits.

Fast forward two months, and the economy is still struggling — but confidence in the recovery is growing, rapidly, according to KUSI Contributor Bob ‘Sully’ Sullivan on Good Morning San Diego.

Economists are swiftly upgrading their GDP and unemployment forecasts and pulling forward the date when the Federal Reserve will be able to lift rock-bottom interest rates.

Goldman Sachs is predicting the US economy will grow at the fastest clip in more than three decades.

The renewed optimism is being driven by two major factors: the health crisis is easing and Uncle Sam is coming to the rescue with staggering amounts of aid — hundreds of billions more than seemed to be in the cards just months ago.