Report | Economic insight for October 25, 2017
All eyes were on
economic policy last week. Congress continued to move forward with its 2018
budget plan. Although spending items will change at the margin, the primary
purpose of the plan was to enable potential tax reform. We continue to believe
there’s a 50-50 chance of legislation passing this year, but the path forward
won’t be easy. Meanwhile, the president may soon announce his pick for the next
Fed chair. The announcement is eagerly anticipating the announcement because
the choice could have a large impact on monetary policy. The data that was
released last week continued to show disruptions due to the hurricanes, but the
key release will come this week when third-quarter GDP is announced. That’s
when we’ll find out how damaging those storms were to economic growth.
To access the report, simply complete the form.