Get ready to say goodbye to slow growth, low interest rates and benign inflation. Be prepared for the decline of monetary policy as defined by central banks and global institutions. Bid adieu to the embrace of globalization.
And say hello to the new abnormal, says Michael Arone, chief investment strategist at State Street Global Advisors. Going forward, the policies of the World Bank, International Monetary Fund, United Nations and similar institutions will be questioned and, possibly, ignored. Monetary policy is likely to be replaced by fiscal policy, including infrastructure spending and tax reform.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.