Global Economy – GDP Growth Projections The International Monetary Fund projects global economic growth of 2.8% in 2025 and 3.0% in 2026, reflecting a subdued outlook shaped by persistent trade tensions and high policy uncertainty. Image: International Monetary Fund
Median Policy Rate Projections in the Fed’s Summary of Economic Projections The anticipation of rate cuts in 2024 and beyond is generally viewed as bullish for equity markets, as it signals a potential easing of monetary policy that can support economic growth and stock prices. Image: BofA Global Research
Inflation – U.S. CPI Projections As U.S. inflation is expected to decline, could the Fed be less hawkish in 2023? Image: J.P. Morgan
U.S. GDP, Inflation and Unemployment – FOMC Economic Projections The Fed is forecasting an unemployment rate of 4.6% in 2023. Image: The Daily Shot
U.S. Headline Inflation Rate Projections With slightly better inflation news, U.S. headline inflation is expected to decline throughout the rest of the year. Image: Pictet Asset Management
European vs. Global Equities Projections European equities are expected to underperform global equities over the next 12 months. Image: BofA Global Research
Fed – Policymaker’s Projections for the Midpoint of U.S. Interest Rates The Fed forecasts first rate hikes in 2023. Image: Financial Times
U.S. Output Gap (Plus Projections) as a Proportion of Potential GDP According to Deutsche Bank, the U.S. output gap is expected to rise above 2%, which tends to lead to higher prices. Image: Deutsche Bank
G4 Central Banks’ Balance Sheets – Projection The G4 central banks’ balance sheet is expected to reach $29.6 trillion by year-end 2022. Image: Morgan Stanley Research
Corporate Bonds – Number of Fallen Angels in U.S. with 2020 Projection While fallen angels get Fed’s helping hand, their numbers in 2020 are expected to reach the same levels as in 2001 and 2009. Image: J.P. Morgan
Projection of Treasury Issuance and Fed’s Purchases Deutsche Bank expects that Fed demand alone will outstrip Treasury supply by approximately $900 billion over the rest of 2020. Image: Deutsche Bank