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 鈥渁 rush鈥� for 鈥渃heap money鈥�.
Despite the economic slowdown globally, the US has pushed against this trend, he explained.
Tal said this was a 鈥渟hort term gain鈥�, but could result in 鈥渓ong term pain鈥� for the US.
Elaborating on this, Tal added: 鈥淯sually, governments stimulate their economy when it鈥檚 down鈥攏ot up鈥攂ut Trump provided an extra lift that it did not need when it was high.鈥�
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 鈥渁 rush鈥� for 鈥渃heap money鈥�.
Despite the economic slowdown globally, the US has pushed against this trend, he explained.
Tal said this was a 鈥渟hort term gain鈥�, but could result in 鈥渓ong term pain鈥� for the US.
Elaborating on this, Tal added: 鈥淯sually, governments stimulate their economy when it鈥檚 down鈥攏ot up鈥攂ut Trump provided an extra lift that it did not need when it was high.鈥�
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