Secular Outlook Takeaways: Age of Transformation

I nvestors and policymakers will likely face a radically different macro environment over the next five years as the New Normal decade of subpar-but-stable growth, below-target inflation, subdued volatility, and juicy asset returns fades into the rearview mirror. What lies ahead is a more uncertain and uneven growth and inflation environment in which overall capital market returns are likely to be lower and more volatile.