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Outlook 2020: 7 Key Questions Answered
We believe the world is in transition, and 2020 will be a foundational year. First, we’re now back to a monetary policy that should allow the economy and inflation to run a little hotter than they have recently. The second element in transition is global trade: All eyes are on the U.S.-China trade negotiations, but trade around the world is shifting from globalized to localized. This shift will lead to increased automation and technology use, which may mean higher initial costs, but should lead to increased productivity over the next business cycle. As a result, we believe that we’ll see two global supply chains ... (full story)