According to Pierre Molinero, portfolio manager-analyst, Ofi Asset Management, fiscal policies are evolving in some developed countries and are becoming more expansionary. He explains that in the United States, the "Trump effect" is without precedent: the fiscal deficit is growing massively (5% of GDP) as the economy is booming and unemployment is close to all time low. Even in Europe, governments are slowly loosening fiscal policies (including France, under pressure from the Yellow Vest movement). With economies showing signs of recovery and accommodative monetary policies, h...
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