RBC’s $326 Billion Asset Management Unit Sees More U.S. Growth
- Chief economist says expansion can carry on for three years
- Eric Lascelles says structural changes reduce recession risk
Royal Bank of Canada headquarters in Toronto.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Recession fears may be brewing but there’s good reasons to believe the longest economic expansion in U.S. history can keep on rolling for another three or four years, according to RBC Global Asset Management Inc.
“I can’t claim to be worry free, but if we tally up all of the various headwinds out there, it’d be pretty hard to come anywhere near a recession out of that,” said Eric Lascelles, chief economist at the Royal Bank of Canada unit which manages C$430 billion ($326 billion).