Vanguard top forecaster compares U.S. economy to Rocky: Recession unlikely but will take a beating

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Vanguard’s chief economist Joseph “Joe” Davis told a packed house that the U.S. economy remains healthy, and that the firm is sticking with its prediction for only one more interest rate hike by the Federal Reserve in 2019.  There are legitimate concerns for the economic outlook. But the theme for 2019. in my mind. is a boxing analogy: down but not out. Even if Rocky wins the fight, he takes a beating. In shorthand that’s the outlook for the United States and the global economy

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