from the Dallas Fed
– this post authored by Enrique Mart’nez-Garc’a and Kelvinder Virdi
Global growth remains tame amid shifting policy priorities and related policy uncertainty. Downward risks to the outlook center on: The policy shift expected under the new U.S. administration, the possibility of a less-gradual normalization of U.S. monetary policy, China’s fiscal space (and credit deepening) to continue providing stimulus to its economy and global spillovers from these developments. Protectionist pressures in some advanced economies are also cited as a key concern.