The U.S. and global economies are slowly recovering from the economic crisis of 2008, and consumer confidence is growing. Uncertainty about government policies and stubborn unemployment levels remain as obstacles. That was the consensus of a high-level panel of experts on the first day of the Quinnipiac University‘s third annual Global Asset Management Education (G.A.M.E.) III Forum at the Hilton Hotel Midtown.
“Business profits are pretty good, but hirings are not there yet,” said Frank Hatheway, chief economist at NASDAQ OMX Group, Inc. “We don’t yet have the level of employment normally seen at this stage of the business cycle.” Hatheway called for stimulating the sector with government job retraining programs “so we can start creating 400,000 jobs a month, not 150,000.”
Hatheway was one of four keynotes on the morning “Global Economy” panel, and his bullish outlook was shared. According to another speaker, Bob Doll, chief equity strategist and senior portfolio manager at Nuveen Asset Management, “The world economy is slowly, irrevocably improving.” Looking at the U.S. economy, Doll said that “the business sector is in pretty good shape, and corporations are now willing to spend a little more on hiring workers, investing and paying dividends. We’re seeing sustainable momentum.”