MOUNT KISCO, N.Y., Dec. 20, 2017 (GLOBE NEWSWIRE) -- David Levy wrote to clients in the December 2017 issue of The Levy Forecast® that, severe long-term balance sheet problems notwithstanding, “the U.S. economic expansion is on solid footing as it heads into 2018,” powered by a rise in capital spending and falling personal saving.
The chairman of the independent Jerome Levy Forecasting Center LLC (www.levyforecast.com) said recent economic news has been characterized by “signs of brisk growth rather than signs of marked acceleration in wage or price inflation,” but that such “Goldilocksian” conditions still meant likely rising interest rates.
Writing in the nation’s oldest publication devoted exclusively to forecasting and analyzing general economic and business conditions, Levy noted that “. . . during 2018, even if inflation has not picked up yet, the monetary authorities will likely feel uncomfortable with an economy growing solidly, unemployment falling toward a post-WWII record low, and a real federal funds rate that is still near zero.”
Writing in the same issue, Srinivas Thiruvadanthai wrote that the ingredients are in place for “an epic mania” in Bitcoin.
The director of research at the Jerome Levy Forecasting Center LLC described those ingredients in the following way: “Investors are starved for a market with an alluring story that rationalizes large price gains, and Bitcoin’s promise of a profound technological shift, along with its complete lack of valuation limits, fills that void.”
About The Jerome Levy Forecasting Center
The Jerome Levy Forecasting Center LLC – the world leader in applying the macroeconomic Profits Perspective to economic analysis and forecasting – conducts cutting edge economic research and offers consulting services to its clients. The goal of the Levy Forecasting Center is to improve its clients’ business and investment performance by providing them with powerful insights into economic risks and opportunities – insights that are difficult or even impossible to achieve with conventional approaches to macroeconomic analysis. Additional information may be found at www.levyforecast.com.
Note: The full Levy Forecast is available to the press in PDF format by contacting Robert King at The Jerome Levy Forecasting Center – rking@levyforecast.com or 914 666 0641.
FROM:
The Jerome Levy Forecasting Center
69 South Moger Avenue, Suite 202
Mount Kisco, NY 10549
Robert C. King, 914 666 0641
rking@levyforecast.com
www.levyforecast.com