Misplaced fears
Germany and Japan contracted in the third quarter. The US economy probably peaked in the middle two quarters of this year. Recently, Federal Reserve (Fed) Chair Jerome Powell and Vice Chair Clarida have voiced concerns about a global growth slowdown. But, we feel like fears are overdone. The…
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The end of the “New Normal”
Nearly a decade of crises produced a prolonged period of subpar economic activity. First there was the financial crisis, then the European debt crisis, and finally the 2015-2016 commodity price rout. Nominal GDP growth collapsed. In fact, in 2015, world nominal GDP contracted as commodity and oil…
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