Abstract
John C Williams: No man is an island
Highlights
As prepared for delivery “No man is an island entire of itself,” wrote the poet John Donne in 1624
They are salient when it comes to the financial fortunes of the global economy
Today I’m going to explore the commonalities and interconnectedness of the global economy, and what that means for the outlook in the United States
Summary
Which brings me to the second trend I highlighted: slowing global growth. This story—of low interest rates, low inflation, and slow growth—is showing up in the data. The latest numbers from the International Monetary Fund (IMF) follow the recent trend of steady downward revisions of growth estimates. Their forecast for global growth for 2019 is 3 percent, which is the lowest since 2008–09, and it’s not hard to think of scenarios in which growth slows even further.[1]. I’m always on the lookout for signs that inflation is rising too fast. While consumer spending is holding up, other parts of the economy—including manufacturing, exports, and business investment—have seen growth stall or experienced outright declines
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