For years, the US has relied on extraordinarily accommodative monetary policy to promote growth and inflation. Now, it appears poised to adopt pro-growth fiscal and regulatory policy to stimulate economic activity in 2017 and beyond.
Meanwhile, equity markets have set record highs, credit spreads have tightened, and Treasury yields have risen in the weeks since Donald Trump’s election. For its part, the Federal Reserve has shared in the optimism, raising interest rates in December and making upward revisions to its forecasts for growth, inflation, and interest rates in 2017.
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