January 27, 2017—The first reading for fourth-quarter economic growth showed that the economy slowed a bit in quarterly terms, but that the momentum in the second half of the year is intact. The Bureau of Economic Analysis reported real gross domestic product (GDP) increased at an annual rate of 1.9% in the fourth quarter of 2016, a slowdown from 3.5% in the third quarter. Fourth-quarter growth was lower than our expectations of 2.
January 27, 2017— In the weeks leading up to President Trump’s inauguration—and throughout his campaign as well—the subject of “tax reform” has been raised quite often. But what exactly does this term mean? Some concepts such as rate reduction, repatriation, and more rapid capital expense write-offs have been used but these only scratch the surface.
January 6, 2017— Job growth came in at 156,000 for December, which was in line with our expectations of 155,000 but below the consensus median estimate of 175,000. For all of 2016, the U.S. added 2.2 million new jobs or about 180,000 per month. That is well below the 2.7 million added in 2015 when the monthly average was about 230,000 and even farther below the 2014 which was the strongest year for job growth of this recovery.