Big changes are coming to the U.S. economy next year, and not just because a real estate mogul just won the presidency.
From accelerated changes in financial technology tools and higher interest rates – and a whole lot in between – Americans should see a different economic landscape in 2017, and that should impact their household budget in myriad ways.
What changes will stand out the most? Here are five big predictions from finance and economic experts. Any could change the way you manage your money, and how you make key financial decisions next year:
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A much healthier economy? – Michael Palumbo, founder and controlling partner of Third Millennium Trading LLC, predicts U.S. gross domestic product (the measuring stick of the U.S. economy) to rise significantly in 2017. “From the 2% we have become accustomed to under President Obama, GDP should rise about 4% in 2017, and maybe as high as 5% by 2018,” Palumbo says. “The key is that expansionary fiscal policy has not been used here since President Bush gave that tax refund back in 2008 which helped mitigate the damages of the financial crisis. It’s a very powerful tool and if done correctly can jumpstart a stagnant economy.”
A tale of two stock markets – Sameer Samana, global quantitative strategist for the Wells Fargo Investment Institute, says the ongoing stock market rally will continue in the first half of next year, but will stall in the second half as inflation…