The fiscal deficit will continue to flirt with the 10%-of-GDP level, adding to worries about the country’s medium-term debt dynamics. The banking sector will still be “de-risking,” limiting the flow of credit to small and medium-size companies and undermining hiring and investment in plant and equipment.
经济的财政面也值得担忧。财政赤字将继续在10%GDP的水平上徘徊，令人对美国中期债务动态愈加担心了。银行部门仍在“去风险”，因此限制了流向中小企业、提振招聘和产房设备投资所必须的信贷流。而家庭部门痛苦的去杠杆化阶段也只进行了一半。