Global Economic Prospects

The Peterson Institute held its semiannual session on “Global Economic Prospects.” David Stockton presented the outlook for the U.S. economy, saying there were signs the U.S. economy was gaining strength but cautioning that the macro-effects of the “sequester,” or automatic spending cuts, would begin showing up in the middle part of the year. Jacob Funk Kirkegaard talked about whether recent developments in Cyprus and Italy would undermine stability in Europe. Barbara Kotschwar spoke about recent developments in Brazil, Cuba, Mexico, and Venezuela. She speculated whether politicis in Latin America would return to more market- and U.S.-friendly paths. The economists used slides to illustrate their points. Then they responded as a group to questions from members of the audience. close