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New scenario following Donald Trump’s victory
EXTENSION OF THE 2017 PERSONAL TAX CUTS AND HIGHER SPENDING. IN ADDITION, REDUCTION OF IMMIGRATION AND TARGETED TARIFFS ON CHINA, MEXICO, CANADA AND THE EUROPEAN UNION
The economy continues to grow at a good pace on the back of solid investment and consumption
The US will continue to outpace the rest of the advanced economies
Balanced labour market with relatively unchanged unemployment rate
Delaying the inflationary impact of tariffs and fiscal expansion will allow the Fed to continue cutting interest rates until 2026
Expansionary fiscal policy: lower taxes for households and businesses and higher spending