Scoop has an Ethical Paywall
US Economy - Recession Right Nowf
GDP slashed from 2% to 0%. We look for three consecutive quarters of negative growth, to be followed by two quarters of sub-trend growth.
Market expectations of a V-shaped recovery in 2001-H2, therefore, appear too optimistic. We do not see a return to trend growth until 2002-Q2.
Fed to keep cutting another 75bp in 2001-H1, followed by another 75bp in 2001-H2, taking the Fed funds rate to 4% by year-end.
Looser monetary and fiscal policies will initially appear impotent as the focus for businesses and consumers is now balance sheet repair, not expanding consumption and investment.
Ian Morris, US Economist, HSBC
Advertisement - scroll to continue reading
Dominion Road Business Association: Auckland Transport's 'Bus To The Mall' Campaign: A Misuse Of Public Funds And A Blow To Local Businesses
Parrot Analytics: A Very Parrot Analytics Christmas, 2024 Edition
Financial Markets Authority: Individual Pleads Guilty To Insider Trading Charges
Great Journeys New Zealand: Travel Down Memory Lane With The Return Of The Southerner
WorkSafe NZ: Overhead Power Lines Spark Safety Call
Transpower: Transpower Seeks Feedback On Electricity Investment Short-list For Upper South Island
