Five themes for the global economy in 2010; Recovery in advanced economies will be creditless and jobless
Jan 8th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Five themes for the global economy in 2010: Joachim Fels, a Managing Director and US investment bank Morgan Stanley's Chief Global Fixed Income Economist and Strategist, based in London, says last year was all about the exit from the Great Recession - - and it worked courtesy of massive global policy stimulus, as expected. This year will be all about the exit from super- - expansionary monetary policy. MS expects the major central banks to start exiting around the middle of this year. He says the recovery in advanced economies will be creditless and jobless.