One of the best-received speakers at AFT engagements, Economist John Augustine, CFA, & Chief Investment Officer at Huntington Bank, returned to provide powerful insight and a financial forecast at the AFT 2018 Fall Summit in Hilton Head Island, S.C.
In a rapid-fire and informative fashion Augustine offered a narrative, which he summed up as “fairly optimistic,” to the AFT attendees about what he sees as developing themes in global and domestic economies and markets.
Specifically, Augustine provided the following insights:
In terms of other trends, Augustine observed business optimism is at a record level; and business openings in this country, far outpacing business closings. “Small businesses are the engine to our economy and it's going very well right now, thank you.”
He noted some items of concern as well. Banks are worried that companies are going to have too much cash available from the tax cuts and increased profits in general moving forward.
Augustine suggested Europe is very interested in how the trade talks between the U.S. and China go “because they're in the same place where we are with a big trade deficit versus China. It's not a tit for tat between the U.S. and China, but the world against China and China's not sure quite how to react right now.”
He emphasized the importance of a balanced attitude as well. “If we're successful in our home life, chances are that makes us even more of a success in our business life.”