AmCham Discusses U.S. Economic and Political Outlook Following Inauguration
Just one day after U.S. President Joe Biden’s inauguration, more than 70 AmCham members and stakeholders attended an insightful virtual briefing with economic and political experts.
President Biden has inherited an extremely divided nation in the middle of a global pandemic. Our three experts shared their views on the U.S. economy and politics – and the possible impact on business in the U.S. – Denmark’s most important market.
Ulrik Bie, Economic Editor, Berlingske Tidende predicted a strong U.S. economic recovery, significant investments in infrastructure (including green investments) and a doubling down on “Buy American” requirements for companies exporting to the U.S. The high GDP growth in 2021 will primarily be supported by low debt in private households, which combined with large stimulus packages, will increase consumption and growth.
Steffen Kretz, Chief U.S. Correspondent, Denmark’s Radio (DR) alluded to an increasingly divided nation as the biggest political challenge for President Biden. To bridge this gap his urgent priorities will be to get the pandemic under control and stimulate economic growth & jobs. Biden’s success will depend on his ability to work across the aisle.
Lastly Mark Luschini, President, Janney Capital Management gave an overview of the current business environment where he saw continued low interest rates as key stimulus to businesses. Mark also discussed industry sectors impacted by the new administration with focus on healthcare, energy, and technology.
Following the presentations, AmCham’s Stephen Brugger moderated a lively Q&A session touching on U.S. global re-engagement, transatlantic relations and the future U.S. political landscape.