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No US Fed rate raise; Korea's economy to grow nicely, says top economist [VIDEO]

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By Oh Young-jin

U.S. economic forecaster Allen Sinai made optimistic observations during a recent visit to Korea.

In a breakfast lecture hosted by the Institute for Global Economics (IGE) at the Korea Press Center, Tuesday, Sinai forecast that in 2019 the U.S. Federal Reserve may not raise interest rates, contradicting other forecasters on the chance of recession.

The economist, well recognized for his precision, said U.S. growth may reach 3 percent, coupled with the continuation of global expansion.

He also expected the U.S. stock market to grow 7 to 8 percent this year, putting the dismal last year behind it.

For Korea, he said that the period of 5 percent growth may be over but it still will have a "nice" year, with growth close to 3 percent.

As for instruments for investment, he recommended the yen, U.S. Treasuries and gold, among others.

He also credited U.S. President Donald Trump's tax cut for fueling U.S. growth but discounted his chance of re-election.

Sinai argued that the U.S. Congress is not good for anything, proposing a direct democracy that invites voters to cast ballots through smart devices to make decisions on national issues.


Oh Young-jin foolsdie5@koreatimes.co.kr


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