Economic Insights – January 2019

As Business Briefings explained, at the beginning of 2018, the underlying U.S. economy would remain impervious to threats which would roil the global economy.  As it turns out, nothing that has been thrown at the economy, including trade conflicts, short-term interest rates, and stock market corrections, has pierced its armor.  And this is likely to remain true in 2019.

A year ago, the economic consensus was that real U.S. GDP would grow 2.5 percent in 2018, even after the tax cuts were passed.  By contrast, we were more optim.....