Businesses are holding off on major decisions about manufacturing. That's stalling the economy, JPMorgan Asset Management's chief strategist says.
David Kelly, the chief global strategist at JPMorgan Asset Management, said the global economy is slowing because businesses are delaying decisions, particularly around manufacturing.Kelly expects growth to expand at a rate of just 2% this year, down from 3% in 2018.
That was the argument made by David Kelly, the chief global strategist at $1.7 trillion JPMorgan Asset Management, at a media event on Wednesday. The economist specifically highlighted how the Trump administration's decisions on tariffs affect companies' manufacturing decisions.
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