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United States

Report | Economic insight for November 1, 2017

Summary

​The economy shrugged off any negative impact from natural disasters and grew by an annualized rate of 3 percent during the third quarter. Growth was widespread, with consumer spending and business investment leading the way. The longer-term underlying growth rate remains on trend – the economy is bouncing back from a lull during 2016. All this despite the Fed tightening rates since December of 2015, proving rate hikes alone aren't enough to stymie an economic and market expansion. Lending standards over the last couple of years continue to ease despite higher rates, driven by economic improvement. No rate hike is expected out of this week's Fed meeting, but the administration should announce their pick for the next Fed chair. We'll also see the House tax proposal which will have impacts for fiscal and monetary policy over the next few years. Ryan Severino breaks it all down.​

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