U.S. Economic Outlook. First Quarter 2016

Downward revision in global growth expectations near all-time lows, with China's progress a key factor in the scenario. Healthy consumption is key to 2.5% growth in the US for 2016, but risks are tilted to the downside. Increased uncertainty surrounding the pace of monetary policy normalization, though we continue to expect 2 rate increases in 2016, ending the year at 1.0%

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