(ETF Trends) Earlier this year, the International Monetary Fund (IMF) lowered its global growth forecast, pointing to ongoing trade wars dampening China’s economic outlook as well as rising interest rates in the United States. The IMF trimmed its growth expectations to 3.5 percent from 3.7 percent. Global growth outlook for 2020 was also cut to 3.6 percent from 3.7 percent. In the meantime, it’s not all rose-colored glasses for all. Over three-quarters of business economists are foreseeing a U.S. recession by the end of the year 2021, according to a semiannual National Association for Business Economics (NABE) survey released Monday.
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