February 2018 Economic Recap
Minutes from the FOMC’s January meeting revealed that the committee is gaining increasing confidence over its outlook for 2018. Lingering inflation concerns have started to dissipate amidst rising wage growth and a bounce back in inflation expectations. Furthermore, upcoming fiscal stimulus could act to further bolster inflation and employment numbers.
Donald Trump announced import tariffs on steel and aluminum. The President invoked national security concerns as his primary rationale for potentially imposing a 25% tax on imported steel and 10% tariff on aluminum. The announcement coincides with the rise of the anti-trade wing in the White House. Noted trade skeptic Peter Navarro was promoted to advisor just as Communications Director Hope Hicks resigned and advisor Jared Kushner had his security clearance downgraded by Chief of Staff John Kelly.
For a deeper consideration of the economic data released during February, please follow the links below: