Salient to Investors:
Nobel laureate Joseph Stiglitz said it is premature for the Fed to reduce monetary stimulus despite little evidence it has helped the economy, which is not back to normal. Stiglitz said the stimulus may have contributed to asset price bubbles and to a weaker dollar.
Zhu Min at the IMF said the US economy is still in the recovery phase, so maintaining the momentum of the growth is still a main issue. Zhu said a slowdown in China is not necessarily bad news as you need to move the growth model from more investments in exports into internal consumption – it is very good that China is not overly emphasizing on the growth rates.
The median economist expects growth to slow to 2 percent in 2013 from 2.2 percent in 2012, and then expand to 2.7 percent in 2014.
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