One of the reasons the FOMC felt comfortable going ahead with the balance sheet normalization plan and signaling another rate hike before the end of the year was the significant progress that has been made on global economic growth and the improving global economic outlook for 2018.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Sept. 22.
- Eurozone and U.K. economic strength have been some of the biggest surprises for the global economic outlook this year.
- The Bank of England could be the next major central bank to start raising interest rates, perhaps as soon as November.
- Japan’s economy is turning the corner. It is likely to continue to grow above trend over the next few years.
- China’s hard landing fears have dissipated this year.
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Federal Reserve officials and central bankers from around the world met last week at their annual symposium in Jackson Hole, Wyoming, to discuss the future of monetary policy and the global economy.Read More ›
U.S. markets seem to be riding the coattails of the synchronized global recovery despite worries domestically.Read More ›
The summer heat and some hot earnings reports seem to be stoking the fire under the stock market.Read More ›
During this American holiday week, we continue our asset allocation approach in patriotic style with an overweight to U.S. equities and a tip of our hat to other developed nations’ stocks with an overweight to both asset classes.Read More ›