There was one major talking point this week for executives on earnings calls and in media appearances: the stalled negotiations over another pandemic stimulus bill.
“The medium to longer term is still highly uncertain in particular as it relates to future stimulus. And so we remain heavily weighted to our downside scenarios.” — Jennifer Piepszak, the chief financial officer of JPMorgan Chase
“The pace of job growth and the rebound in consumer spending have slowed, and the diminished pace of reopening and the end of some stimulus programs are presenting headwinds.” — Charles Scharf, Wells Fargo’s chief executive
“There is talk of another stimulus in terms of its impact. We’ve assumed that kind of a bit later, in terms of in the first quarter of 2021.” — Mark Mason, the chief financial officer of Citigroup
“For both sides, I think what they need to keep in mind is that there are Americans that need them, that don’t really care about politics, aren’t really tied up in this election and they just need some help.” — Doug McMillon, Walmart’s chief executive, on CNBC
“The consumer number in my view is going to be highly dependent on whether they provide more fiscal stimulus, which I think they absolutely need to do.” — William Demchak, the chief executive of PNC Financial Services
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