Report
The United States’ strategy is completely selfish
The United States’ economic strategy is now clear: Run as large a fiscal deficit as possible (countercyclical measures followed by a public investment package and a package to improve social welfare); Let interest rates rise a little. In t he United States , this will lead to a very large increase in the external deficit and a slight rise in interest rates. This strategy could be called selfish: countercyclical and structural support for the US economy financed by capital inflows facilitated by a (modest) rise in long-term interest rates. It means that savings from the rest of the world (especially Europe and emerging countries other than China) will finance growth stimulus in the short and long term in the United States at the expense of growth in Europe and emerging countries.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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