The U.S. economy outlook for next year is expected to maintain its trend towards recovery despite prevailing uncertainties across the board. This prospect was released by David Mericle, the Chief economist at Goldman Sachs, during “U.S. Economy Outlook & Doing Business in the U.S. Seminar 2022” co-hosted by Korea International Trade Association (KITA) and the American Chamber of Commerce in Korea (AMCHAM) on December 22 at COEX in Samseong-dong.
According to KITA, the seminar invited discussions on the outlook of next year’s post-Covid U.S. economy and its financial environment. Consulting services on various fields were also offered, including finance, investment, information and technology, visa policies, permanent residency and business trip support.
In his presentation, Mr. Mericle anticipated, “Although the U.S. economy in 2022 will likely maintain a steady pace of recovery, risk factors, including the spread of Omicron variant, supply chain disruptions and inflation, will also persist.” He also mentioned, “There is a very high chance of the Fed cutting down its asset purchasing program and carrying out as many as three interest rate hikes in 2022 to respond to mounting pressure from rising inflation.”
Jae-hyeon Go, an Investment Specialist at Metlife Noble Rish Center mentioned, “The U.S. stock market ？ armed with listed innovation-leading global companies ？ can be an attractive investment destination after the Covid pandemic” and added, “Investing in U.S. dollar denominated assets, such as U.S. REITs, U.S. bonds and stocks, are becoming increasingly popular.”
Hakhee Jo, the Vice President for International Affairs at KITA, anticipated, “The spread of contactless economy triggered by the Covid pandemic and the Biden administration’s direction geared towards eco-friendly policies will offer opportunities for Korean companies to expand business activities in the U.S. in these two areas” and said, “KITA will not spare effort to provide our companies with useful information in entering the U.S. market despite looming uncertainties in and out of the country.”