U.S. Exceptionalism and Structural Reform

The U.S. is experiencing a strong mandate for incoming government, which opens opportunities for structural reforms that could enhance economic growth. Unlike emerging markets, the U.S. can also pursue structural changes that boost efficiency by reducing regulatory obstacles, thereby increasing GDP and improving resource allocation. This potential for reform could lead to an unexpected upside in the U.S. growth narrative. As economic conditions improve, the focus on government expenditure and GDP dynamics becomes crucial in determining the effectiveness of these reforms.