Economic Outlook

Global Economic Outlook

US employment rebounded, up 261,000, in October after a weak hurricane-induced September report. Despite the hurricanes, real Gross Domestic Product (GDP) rose 3% in 3Q17, led by a rise in inventories, vehicle sales and net exports. As a result, the Fed is still expected to hike rates in December. The President has chosen Jerome Powell as the Fed chair, a current governor on the Fed Board and as such a source of continuity in the Fed's policymaking. The Administration's tax proposals are now being modified by Congress.