Global Macro Outlook: Third Quarter 2024

From alliancebernstein.com

There’s more evidence that growth is slowing, but it appears manageable and unlikely to lead to recession. While rate cuts have begun outside the US, we expect the Fed to follow suit by December. Political developments, especially the election cycle, are now coming into frame. Key Forecast Trends: • The global economy moved along as expected, with some slowing but not enough to trigger recession. • We view the slowing as positive, contributing to disinflation and bringing economies back into balance. • Rate cuts have begun in key markets, with US easing now expected to begin in December. • Coming elections ... (full story)