CASLA speaker: Global economy in fog of uncertainty
30 May 2019 Toronto
Image: Shutterstock
The global economy is currently in a fog of uncertainty and 2020 will not be a good year for the economy, Benjamin Tal, managing director and deputy chief economist, CIBC, said at the 9th Annual Canadian 厙惇勛圖 Lending Association Conference.
During a presentation, Tal noted that 2017 saw a peak for the global economy, but it has dipped since then.
This was partly down to political concerns, but Tal said in 2017 there was a rush for cheap money.
Despite the economic slowdown globally, the US has pushed against this trend, he explained.
Tal said this was a short term gain, but could result in long term pain for the US.
Elaborating on this, Tal added: Usually, governments stimulate their economy when its downnot upbut Trump provided an extra lift that it did not need when it was high.
During a presentation, Tal noted that 2017 saw a peak for the global economy, but it has dipped since then.
This was partly down to political concerns, but Tal said in 2017 there was a rush for cheap money.
Despite the economic slowdown globally, the US has pushed against this trend, he explained.
Tal said this was a short term gain, but could result in long term pain for the US.
Elaborating on this, Tal added: Usually, governments stimulate their economy when its downnot upbut Trump provided an extra lift that it did not need when it was high.
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