Economic Report: The UK Exits the EU; World Markets React
In a historic referendum, voters in the United Kingdom chose to leave the European Union. In this week’s “Economic Report,” Dr. Rick Harper, who leads the University of West Florida Center for Research and Economic Opportunity, spoke with WUWF 88.1-FM’s Sandra Averhart about the vote and what the U.K. exit from the EU means for the U.S. and world economies.
“The U.S. is the single largest customer for British exports,” Harper said. “I would expect that to continue, but there are challenges. It could be that U.S. banks who have some of their operations based in London could cut employment and that could mean thousands of people. This could put a dent in the profits of U.S. companies, particularly those who have used the U.K. as a foothold in the European marketplace.”
To read the complete report, click here.