By Kyle Brandon
On Monday, SIFMA’s Economic Advisory Roundtable announced it slightly weakened its GDP outlook for 2017 to 2.1%. The following is a Q&A with Kyle Brandon, Managing Director, Director of Research and staff advisor to the Roundtable.
SIFMA's Economic Advisory Roundtable lowered its GDP forecast from 2.2% to 2.1%. Was there a significant change in its view?
The Roundtable's outlook is slightly weaker numerically speaking, but is essentially the same as our estimate this past December. As it did then, the Roundtable considers business confidence to be the most important factor impacting U.S. economic growth, followed by U.S. fiscal policy (of note, the Roundtable's estimate for business capital investment strengthened considerably from 2.7% to 4.4%). This time around, Federal Reserve interest rate actions were noted as a distant third factor, whereas private credit market conditions made the list in December..... Read more...