Project Syndicate: Mohamed El-Erian: U.S. needs pro-growth strategies to extend economic expansion

LONDON (Project Syndicate) — Data released over the next few months will show that the current U.S. economic expansion is the longest on record.

But while the United States continues to outperform other advanced economies, this success has yet to dispel many Americans’ persistent sense of economic insecurity and frustration; nor does it alleviate concerns about the lack of policy space to respond to the next economic downturn or financial shock.

The U.S. is yet to build sufficient buffers to deal with future economic and financial challenges.

The current expansion began in mid-2009, following the 2008 financial crisis and the “Great Recession.

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