CASLA speaker: Global economy in fog of uncertainty
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CASLA speaker: Global economy in fog of uncertainty 30 May 2019Toronto Reporter: Maddie Saghir
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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 Securities 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 it’s down—not up—but Trump provided an extra lift that it did not need when it was high.”
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