US heading for recession after 2 years of unsustainable growth, economist says

US heading for recession after 2 years of unsustainable growth, economist says #Bitcoin

  • The U.S. is headed for a recession in the next two years as excessive fiscal stimulus from the President Donald Trump administration takes the economy into unsustainable territory, Adam Posen, president of the Peterson Institute for International Economics, told CNBC Tuesday.
  • Posen, who served at the Federal Reserve Bank of New York in the mid-90s, said that GDP (gross domestic product) growth targets of 3 percent or more are unobtainable given current productivity and employment rates in the U.S. Add to that intended tax cuts and financial deregulation under Trump and the country will find itself trapped in a boom-bust cycle, Posen said.
  • “The work force is only growing at 0.5 percent and productivity’s at 1 percent so it can’t reach these 3-4 percent growth targets.
  • If unemployment is, unfortunately, about as low as it’s going to go, you can’t pick this up,” he told CNBC Tuesday.

The U.S. is headed for a recession in the next two years as excessive fiscal stimulus takes the economy into unsustainable territory, says economist.
Continue reading “US heading for recession after 2 years of unsustainable growth, economist says”

Bank of England Seeks Digital Currency Research Lead

  • Bank of England Seeks Digital Currency Research Lead
  • The Bank of England may have time on its side.
  • The Bank of England is on the hunt for an economist to spearhead its research into a central bank-issued digital currency.
  • The Bank of England has released new research suggesting a central bank-issued digital currency could lead to an increase in GDP.
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@coindesk: “The Bank of England is on the hunt for an economist to research a central bank-issued digital currency.”


The Bank of England is on the hunt for an economist to spearhead its research into a central bank-issued digital currency.


Bank of England Seeks Digital Currency Research Lead