This economic “now-cast” is further supported by the fact that the Federal Reserve’s December rate hike was well received (in addition to being much anticipated). The Fed said it intends to raise rates three times in 2017, up from its earlier plan of two rate hikes. The rate actions, to paraphrase Fed Chair Janet Yellen, are an endorsement of the health of the economy.
To our way of thinking, we expect to see the central bank and Washington loosening their grips on the reins of managing the economy. What does that mean for equities, fixed income, inflation, commodity prices, and more?
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