Here Is Why Bank of America Expects the Global Economy to Grow 3.5% in 2017

The global economy is expected to grow slightly higher in 2017. "We think things get a little bit better - we've been trundling a long at about 3% globally for the last 6 years or so," says Ethan Harris, head of global economics at Bank of America (BAC) - Get Report Merrill Lynch, adding that he expects the global economy to grow 3.5% in 2017, buoyed by some fiscal stimulus out of the U.S. and Japan. Harris said the U.S. is part of the more bullish story within the global picture and the expectations of tax cuts, modest infrastructure spending and deregulation under the incoming Donald Trump administration is enough to lift U.S. growth. TheStreet's Scott Gamm reports from New York.