An Honest Look At Global Markets
Wednesday, March 09, 2016
At IML we have been cautious about economic growth for many years for a variety of reasons, and in general terms nothing has happened to make us more optimistic.
In December the US Federal Reserve finally raised interest rates by a miniscule 25 basis points after six years of effectively zero rates. It has surprised almost everyone, not least of all the Federal Reserve, how sluggish the recovery from 2008’s Global Financial Crisis has been. Over that period economists have continuously forecast growth levels more reminiscent of previous recoveries and steadily had to cut those forecasts as actual events unfolded.