Scott Colbert, chief economist at Commerce Trust Company in St. Louis, disagrees with the prevailing consensus that the US expansion is at or near recession.
While growth may have slowed, the economy is in much better shape than is believed by many, with few near term chances of recession according to Colbert, citing leading economic indicators.
Indeed, “if we had to put a number on it…we would push it out towards as much as four more years” of economic expansion.
The market is underestimating the response by policymakers, including by the Federal Reserve, to ward off a slowdown.
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