U.S. Outlook: Global malaise
The global economy continues to be one of the biggest risks for the U.S. economy over the near term.
For a look at some key developments, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Oct. 14.Key observations:
- The IMF calls for urgent global government action relying on all policy levers, including accommodative monetary policy, to head off further growth disappointment.
- Downside risks to the global outlook for 2017 continue to grow from Brexit, the rebalancing of China’s economy, and stagnation in advanced economies.
- The global drag from Brexit is just beginning, and it could be a prolonged affair.
- Global trade growth is shrinking as globalization reverses and economic policies turn increasingly inward-looking.