Chief Economist & Strategist
The GDP impact of escalating trade tensions will be more severe on China but US consumers will pay as companies pass on higher costs.
We see US profits falling 4% in 2020 as slower growth and higher wage costs hit companies’ profit margins. But we have modelled a range of alternatives - and charted the potential impact.
Our inescapable truths are the economic forces and disruptive forces we think will shape the investment landscape over the years to come.
Snapshot: The US central bank’s more dovish stance has been welcomed by markets. We forecast another rate rise this year if activity picks up as expected.