Wednesday, August 30, 2017

The Gap between Wall Street and Main Street is widening

“While stock markets continue to reach new highs, the U.S. economy grew at an average rate of just 1.9% in the first half of 2017 — slower than it had been growing in President Barack Obama second term — and is not expected to perform much better for the rest of the year,” he wrote for Project Syndicate. “Yes, inflation is low, and corporate profits and stock markets are soaring. But the gap between Wall Street and Main Street is widening,” wrote Roubini, a professor at NYU’s Stern School of Business.

 Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

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