Trump Lucky to Inherit Healthier Banking System, Greenwood Says
- Invesco’s chief economist sees U.S. business cycle expanding
- U.S. has entered phase of interest-rate normalization
The WHite House.
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Donald Trump will enter the White House with the U.S. banking system in far better shape than it was for Barack Obama’s arrival eight years ago, according to Invesco chief economist John Greenwood.
With Trump’s inauguration just two weeks away, the U.S. business cycle is in line for several years of expansion as bank lending is growing and activity has normalized, reducing the need for the Federal Reserve to create credit as it did under quantitative easing, Greenwood said Thursday at a news conference in Hong Kong.