Low risk: The Federal Reserve Bank of New York in the financial district of New York City. The Fed is optimistic that the US economy will slow down this year but that recession risks are low. — Reuters
OVER the course of my 60-year career, with the exception of the 2008 financial crisis, I have not seen the public and private sectors buffeted by so much risk. Today’s new risks are not financial, but they are unprecedented in their character, not just their scope.
Make no mistake: (i) politics threatens to disturb the foundations of the global system, and (ii) governments confront unprecedented business risk because of so much disruptive innovation.
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