BOSTON—“The greatest stimulus package in the world is certainty. For the past two years we have not had certainty,” Bob Reynolds, president and chief executive of Putnam Investments told the Fund Forum USA’s Global Fund Distribution Summit here Tuesday.
But this is not a new phenomenon for America, he said. Beginning with its formation in 1776, the United States has continued to question and to doubt itself, he said. Most recently, since the financial crisis of 2008, America has lost sight of the fact it continues to be the world leader on military might, higher education, technology and innovation, Reynolds said. Corporations have $2 trillion in cash and are achieving record profits, with 40 cents of ever dollar of those profits coming from vibrant, global footrpints, he stressed.