When the US reports gross domestic product growth (GDP) this month, it is expected to come in at a solid pace of at least 2 per cent for the seventh quarter in a row, defying the once universal expectation that Federal Reserve rate hikes would trigger a recession.
First economists dialled those forecasts back to a “soft landing”, now they are talking about “no landing”.
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Financial Times
Ruchir Sharma is a writer and investor, and the author of four books, including most recently "The 10 Rules of Successful Nations". He is chairman of Rockefeller International.
