Growth in the US will be 3% next year, predicts UBS chief investment officer Bill O'Neill, the best rate of expansion for the country since the 2008 financial crisis.
The US has gone through a process of deleveraging and is in a powerful position to lead the global recovery, O'Neill told delegates at an event in London organised by Dennis Hall's Yellowtail Financial Planning.
Official data showed that the US economy grew 2.8% in the third quarter of this year, well beyond expectations for 2.0% growth.
"The running down of debt has started to stop. People are starting to take advantage of low interest rates to borrow again," he said, driving spending in the economy.
O'Neill expects the US Federal Reserve to begin tapering off its $85bn a month quantitative easing (QE) programme in March next year.
The Fed - like the Bank of England in the UK - has linked tapering of QE to employment. It has said it will only start weaning the US economy off its fiscal stimulus scheme after America's employment situation shows sustained improvement.
O'Neill reckons "a lot of the firing has stopped" in the US, but that that is not translating into hiring, yet.
"The level of labour market participation is at its lowest level since the 1970s, but we will gradually see this improve," O'Neill said.
"We should see unemployment at 6.3% in the US by 2015."
The US unemployment rate for October was 7.3%, up from 7.2% in September, though this increase is likely to have been effected by the 16 day government shutdown.
O'Neill believes the developed world is in "revival mode", and that such a synchronised recovery will be "powerful".
However, he added a note of caution.
"We are not yet in a post-Lehman's situation given central banks are still taking extraordinary actions [in the form of QE]. We still don't know the full consequences of what has been done, or the impact."
£92bn transferred since 2015
Achievements, charity work and other happy snippets
Since first announcement