Standard Chartered Economist Says US Is Going To Continue To Slow Down

David Semmens of Standard Chartered spoke with CNBC this morning about the state of the U.S. economy, future quantitative easing, and the threat of deflation.

  • 0:30 We’re going to avoid regular deflation because of the Fed’s actions.
  • 1:15 The U.S. is going to continue slowing down, as people are going to continue to reduce spending.
  • 1:30 There is a return to normalization in interest rates in Canada and Australia, but no possibility of such moves in the U.S.
  • 2:00 The service sector, which is 85% of the U.S. economy, was a big disappointment in recent economic data.
  • 4:30 The Fed has set up a system in which you have to prove you don’t need the money to be able to get it. Small businesses and small banks are being left out.


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