The outlook for the U.S. economy in the light of the change of administration
Until the end of last year the U.S. economy was performing better than most other advanced economies, and the prospects were for robust economic growth, moderate inflation and low unemployment; however, the recent policy changes driven by the new administration have generated a significant adverse shock, whose magnitude, if unaddressed, will be amplified both over time and internationally. Within this context of rising uncertainty, the risk of stagflation or worse has increased considerably.