UBS' O'Neill: US growth on track for best year since crisis in 2014

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 qu...