Through the BABC, members have the opportunity to develop valuable business contacts within the British American community and to exchange ideas and information with a cross section of business, trade and governmental interests.
By Joanne Gilbert, Fixed Income Investment Specialist, Aberdeen Asset Management
With so much policy ammunition spent in the pursuit of long lasting growth in the US, it is somewhat puzzling that the economy has remained, thus far, stubbornly sedate.
Gross domestic product (GDP chained year-on-year) has posted almost exclusively sub-3% readings since the onset of the global financial crisis (GFC). In our view, this is hardly a pace to trouble the hawks on the Federal Open Market Committee. Indeed, it has resulted in talk of a “new normal” where the interest rate cycle has a much lower upper bound. Proponents say that instead of 5% being the top end of the federal funds rate cycle, we are likely to see rates peak at 3%.
On Thursday, December 11, 2014, the British American Business Council (BABC) of Greater Philadelphia hosted its Annual Holiday Luncheon Red Hot Global Marketing, featuring Simon Bradley, VP Marketing North America, Virgin Atlantic Airways; Jim Ziolkowski, Founder & CEO, buildOn; and The Honorable Michael A. Nutter, Mayor of Philadelphia. Approximately 150 people gathered for the BABC’s signature event in the Grand Ballroom of The Ritz Carlton, Philadelphia.