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Authors
Neil Williams
Senior Economic Adviser
Neil joined the international business of Federated Hermes in August 2009 and provides investment teams with forward-looking economic research, as well as regular thought pieces and newsletters. He adopts top-down methods – macro and market analysis – to identify interest rate and credit value, and sovereign default risk. Neil began his career in 1987 at the Confederation of British Industry (CBI), becoming its youngest ever Head of Economic Policy. He went on to hold a number of senior positions in investment banks – including Director of Bond Research at UBS, Head of Research at Sumitomo International, Global Head of Emerging Markets Research at PaineWebber International, and, most recently, Head of Sovereign Research and Strategy at Mizuho International. Neil has 30 years’ industry experience and earned an MA in Economics in 1986 from Manchester University, having the previous year completed his BSc (Hons), also in Economics, from University College Swansea.
With things turning brighter - for more reasons than one this spring - Eoin and Neil discuss how strong economic recovery will be, whether further stimulus is required, what could go wrong, and where now for policy and markets.
Neil Williams examines the impact that various pandemic-related stimulus packages have had on both global government debt and the efficacy of monetary and fiscal tools available to policy-makers.
The US and UK are already running highly negative interest rates, when QE is considered, according to a report by the International business of Federated Hermes.
In hard macro terms, the tragic spread of the coronavirus provides another argument for keeping policy rates close to the floor, and the ‘punch bowl’ of central-bank liquidity filled.
In his latest Economic outlook, Neil Williams, Senior Economic Adviser to Hermes Investment Management, argues that Japan-style deflation is becoming an increasing possibility elsewhere.
Neil Williams argues that comparisons between G7 economies’ current experiences and those of Japan since the late 1990s are more than just a coincidence...
