18 March 2011 12:00AM

 - The robust response of policymakers helped the US economy avoid a worst-case scenario in 2009 

 - The newsflow has improved markedly since the Fall of 2010, and the economy is likely to grow strongly in 2011 and 2012 

 - Risks remain, however, from rising oil prices, sovereign debt concerns (both in Europe and domestically) and a potential pick-up in inflation

 - The economic improvement bodes well for philanthropic giving