| Is the US on track for a soft or hard landing? A harder landing next year is the most likely outcome, says Kevin Hassett, an economist who served as the 29th Chairman of the US President’s Council of Economic Advisors. Excess savings, built up during the pandemic, are depleting and he expects geopolitical tensions in the Middle East and Ukraine to make people more risk averse, with businesses also holding back on capital spending next year in the run-up to the presidential election. Kevin Hasset explains the economic forces driving the prospects for growth and inflation in the US going into 2024. https://www.pictet.com/ch/fr/wealth-management |
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