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There are reasons to be optimistic about the US economy

Gloomy predictions of a hard landing overlook changes in the private sector and the labour market

The writer is co-founder of Centerview Partners

The US economy is slowing down. The main dispute among economists is whether we are in for a soft landing or a hard one, and the pessimistic perspective has dominated headlines.

But while it is clear that we are in for a difficult period ahead, there is also reason to believe that the American economy is primed for a renewed period of expansion in the years that follow. Most observers tend to view today’s economic challenges through the prism of past downturns. But the US economy operates differently today than it did 40, or even 14, years ago.

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