CIO perspectives: Fourth-quarter outlook - Andrew Marchese
Andrew Marchese, portfolio manager and Fidelity’s Chief Investment Officer, discusses the outlook for Canadian and global markets as we head into the fourth quarter, as well as his insights on the U.S. election, trade tensions, oil prices and a pending COVID-19 vaccine. Regarding inflation, for Andrew the question remains of how to get rid of the debt: whether to grow or inflate our way out of it. Growth becomes challenging without innovation in how we ramp up productivity. That sort of innovation is not showing up in the data, which leaves us with inflation. Andrew’s personal belief is that central banks will always err on the side of inflation, and need to keep rates low. Andrew is quite bullish on Canada as a country; he is positive on education, immigration and innovation themes that he thinks will serve the country well for future generations. However, he would like to see more advancements made to try to keep Canadian (or Canadian-educated) talent in Canada, to grow small businesses and small-to-medium enterprises.
Recorded on September 30, 2020.
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