When the current economic expansion began in 2009, nobody had ever taken an Uber or used an iPad. This streak of growth in the U.S. economy is the longest on record, but recent global and policy uncertainties have raised concerns about its longevity. We think the expansion can extend through 2020, but with age will come greater vulnerability to risks. Here are four key takeaways about the health of this economy.
Bull markets rarely end without an accompanying recession. This is good news for investors, in our view, because we don’t think a recession is looming. Policy risks and sluggish global growth are likely to spur bouts of volatility, but this expansion is not on life support and should continue to offer support to the stock market in the coming year.
*Sources: Bloomberg, Edward Jones calculations.
Past expansions are not a guarantee of what will happen in the future.
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