US Federal Reserve policymakers have become less optimistic about the long-term growth potential of the US economy. The table shows the evolving thoughts...
John Robertson
PortfolioDirect
US Federal Reserve policymakers have become less optimistic about the long-term growth potential of the US economy. The table shows the evolving thoughts of those contributing GDP forecasts each year since the middle of 2009 about the economy's growth potential. The central tendency of the forecasts has declined as have expectations among the least and most optimistic of the forecasters. As usual, policymakers' ideas about the future may prove too heavily anchored in the most recent past. To the extent there is an assumption among business leaders, reinforced by Fed officials, of broadly deteriorating conditions, business planning will reflect such an outcome. If conditions prove better than expected because forecasters have lulled themselves into a false sense of insecurity, businesses will find themselves with insufficient production capacity in the future with a need to adjust quickly to more buoyant conditions. Hence we have cycles.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
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John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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