US' economic prospects bright despite Trump's tariff threats: Bankers

LONDON - A chorus of top bankers said they are feeling positive about the prospects for the US economy under President-elect Donald Trump and think his tariff threats will be manageable.

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At the same time, many senior financiers and asset managers at Bloomberg's Women, Money and Power conference on Dec 10 said they see Europe facing slower growth and political division that will hold the continent back.

Both regions will need to tackle inflationary pressures that have eaten into people's living standards, the executives said at the gathering.

"The bright spot is America - you talk a lot about a lot of roads leading here, fantastic entrepreneurship, this country is incredible," said Ms Jane Fraser, chief executive of Citigroup. "Europe has a tougher time. They've got some more structural challenges: the labour market is not as flexible, they don't have the scale that the States has, and they've got some challenges in terms of competitiveness."