(NewsReady.com) – The pandemic has been raging for almost two years. COVID-19 has spread across the globe, resulting in hundreds of thousands of deaths and significant economic problems. It’s been going on for so long that sometimes people feel as though it might never end — but one banking institution believes it’s nearly over.
JPMorgan Chief Global Market Strategist Marko Kolanovic was recently recorded saying the company believes 2022 is going to lead to the end of the global pandemic. The company thinks the world will “return to normal conditions” and look like it did before COVID-19. Kolanovic claimed it’s going to happen by “achieving broad population immunity,” which will be available next year with the help of people developing treatments.
JPMORGAN’s 2022 outlook is out:
“Our view is that 2022 will be the year of a full global recovery, an end of the pandemic, and a return to normal economic and market conditions we had prior to the COVID-19 outbreak. .. Our 2022 price target for the S&P 500 is 5050.” [Kolanovic] pic.twitter.com/086vMUzl36
— Carl Quintanilla (@carlquintanilla) December 8, 2021
Banks have reason to believe the forecast is positive. This year was good for them. In 2021, the stock market hit record highs. While other industries struggled, the financial sector did exceedingly well. Interest rates are still low and the housing market is doing very well. Unemployment is still dropping and new medications are under development to treat COVID-19, including pills that could help.
While the world isn’t out of the woods yet, it looks like better days are on the horizon.
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