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U.S. economy to coast, no big boost expected from trade deal: Reuters poll


Added 01-23-20 12:03:02am EST - “The initial trade deal between Washington and Beijing is unlikely to provide a s...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “U.S. economy to coast, no big boost expected from trade deal: Reuters poll”. Below is an excerpt from the article.

BENGALURU (Reuters) - The initial trade deal between Washington and Beijing is unlikely to provide a significant boost to the U.S. economy and will only reduce the downside risk or at best help activity moderately, a Reuters poll showed.

While financial markets were optimistic in the run-up to and after the trade agreement - with U.S. stocks hitting all-time highs last week - the growth and inflation outlook in the latest poll was little changed from the previous few months.

The Jan. 16-22 Reuters poll of over 100 economists - taken as business leaders gathered at the World Economic Forum in Davos to be greeted by the IMF cutting its global growth forecasts again - showed a significant pickup in the U.S. economy was not on the cards.

“The recent Phase 1 deal between the U.S. and China suggests decreasing odds of an escalation to a full-blown trade war. However, the deal so far is not comprehensive enough to significantly boost economic momentum,” said Janwillem Acket, chief economist at Julius Baer.

That was also clear from predictions for the Federal Reserve to remain on the sidelines this year and on expectations the next likely move would be a cut rather than a hike.

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