Reasons to be cheerful about US growth

Markets have over-reacted to the taper and under-estimated the persistence of low inflation, says Ethan Harris, co-head of global economics at BofA Merrill.
Ethan Harris

Ethan Harris has his work cut out. The co-head of global economics at Bank of America Merrill Lynch is in Asia to help clients understand what’s going on in the US.

There is plenty to explain. People want to know who the next US Federal Reserve chair will be, when the taper will kick in and whether a sustainable economic recovery is on the horizon not to mention the likelihood of war with Syria.

Speaking from BofA Merrill’s office in downtown Tokyo on Monday, as a typhoon swept the country, Harris was taking it...

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