Global Chiefs Predict U.S. Economy For 2018
The U.S. economy is in a unique position in 2018. After a strong recovery from the 2008 financial crisis, American voters chose to do a dramatic 180 degree turn in the 2016 election, opting for a conservative government across all three branches.
The ramifications of this are just starting to be understood. Coupled with natural economic trends, a rising China and potential rebukes of longstanding trade agreements, this could mean either a volatile future for the American economy or a continued upward trend. Compiled here are some predictions from global chiefs about what the future holds for the most powerful nation in the world.
Following a significant meeting at the International Monetary Fund (IMF) and World Bank, there was an upbeat, if cautious, mood. The IMF recently bumped up its forecast for global economic growth in 2018 based on surging stocks, tight credit spreads and a non-volatile market.
While there was a call for optimism and excitement, global economic chiefs including Federal Reserve Chair Janet Yellen called for temperance as the U.S. faces looming inflation following expansion. Inflation could spell trouble if U.S. wages, which have been the key slow-grower since the 2008 recession, don’t increase in kind.