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%.
The Transatlantic Trade & Investment Partnership Seminar – Exploring the Watershed Agreement with Far Reaching Implications: October 2, 2014
On Thursday, October 2, 2014, the BABC of Greater Philadelphia hosted the first educational seminar offered in this region about a timely and important policy topic – the Transatlantic Trade & Investment Partnership (TTIP) – the world’s largest free trade agreement. The TTIP aims to create jobs and growth by removing quantitative and regulatory barriers to trade and commerce between the EU and the US, making it easier for businesses and consumers to buy and sell goods and services between the two regions. This game-changing agreement, if successful, could establish new global trading rules and standards that could help both sides of the Atlantic maintain dominance in an increasingly competitive global economy. Panelists traveled from Washington DC and Harrisburg to present the issues that are currently being hotly debated in Washington DC and Brussels.