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 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.”
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.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
