Richard Hoey, Chief Economist at BNY Mellon, presents his economic outlook for 2014, predicting an acceleration in global economic growth led by the developed world. Key factors include monetary ease, reduced fiscal drag, and moderate energy prices. Challenges include deteriorating demographics and suboptimal economic policies. The outlook for emerging countries is more varied, with concerns about economic policy credibility. The U.S. is expected to see a 'three for three' pattern of roughly 3% real GDP growth for the next three years. The Eurozone is expected to grow at a modest pace, while Japan is experiencing growth due to Abenomics. China's growth is expected to decelerate structurally. U.S. monetary policy under Janet Yellen is expected to remain supportive of economic expansion.
documents/EFTA01092124.pdf
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