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Weakening or normalizing? A big-picture view of the global economy
Market-watchers can often get myopic. But if we focus too closely on just one or two data points, we may not see the forest for the trees. That’s why I think it makes sense to take a step back and look at the global economy in terms of some important themes. Chief among them: the normalizing US economy, diverging consumer sentiment in Europe and the UK, easing monetary policy in major Western economies, and encouraging stimulus in China. The US economy is normalizing, by design The US Federal Reserve (Fed) wanted to cool down a hot economy to get inflation in check. In particular, it wanted to see tight labor ... (full story)