The news flow is unusually heavy for August, and at the moment it’s somewhat skewed towards the negative. Our central scenario of continued, but slowing growth for the rest of 2019, followed by a significant risk of a recession in 2020 remains intact.
It’s been an exceptionally busy week for economic news. But it all points to a slowing economy. Read more from Dan North.
As expected the Federal Reserve lowered the Fed Funds rate by 0.25% to a range of 2.00%-2.25%. It was the first rate cut in over ten years.
Since 1996, Dan North has been with Euler Hermes, the world’s oldest and largest credit insurance company. As the company’s chief economist for North America, he uses macroeconomic and quantitative analyses to help manage Euler Hermes’ risk portfolio of more than $250 billion in annual trade transactions within the region.
As one of the leading U.S. economists, Dan North has appeared on CNBC, Fox Business News, ABC News Now, France 24, and Bloomberg Radio and Television. He has been quoted by USA Today, Barron’s, Bloomberg Business Week, The Washington Post, Paris Le Monde, and The Wall Street Journal. After having predicted the 2008/2009 recession and its implications accurately, Dan North was ranked 4th on Bloomberg’s list of the 65 top economic forecasters in 2010.