U.S. economy: the tortoise wins the race | KPMG | US
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U.S. Economy: The Tortoise Wins the Race

U.S. Economy: The Tortoise Wins the Race

Commentary on the recent Fed rate hike, flattening yield curves, and relationship between prices and “flation,” among other themes. For more, read the latest U.S. Update from KPMG’s Chief Economist Constance Hunter.


Chief Economist

KPMG in the U.S.


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  • The Federal Reserve hiked rates in June with the expectation that low unemployment will lead to wage growth and inflation in the coming quarters
  • Continued steady jobs growth is likely to support consumption, which we expect to be 2.3% for 2017
  • Globally, the manufacturing cycle is turning positive and this should help the U.S. rebound as well
  • The yield curve is flattening which means the Fed will be limited in the number of rate hikes it can do before the 10-year yield starts to rise
  • While slow and steady growth has been the mantra, the US recovery may hit a wall in the coming quarters 

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