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US: Economy still on track but Fed policy uncertainty is rising - NAB

Tony Kelly, Senior Economist at NAB, suggests that for the US, initial indicators for Q4 suggest the economy continues to perform strongly towards the end of 2018.

Key Quotes

“The recent large decline in equity prices is a concern, although increases in other measures of financial stress are not yet at worrying levels.”

“As the Fed funds rate moves closer to the Fed’s view of its neutral level, uncertainty around the timing, and extent, of increases in rates is likely to increase.”