Monthly Outlook And Review On The US Economy

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The U.S. economy started 2019 on much stronger footing than forecasters and market participants had anticipated. Strong labor-market data for April underpins our picture of a well-behaved moderation. However, risks to this outlook remain. The recent escalation of trade negotiations with China and the lingering dispute with Iran would be the most prominent ones.

he Fed's policy stance was, again, seen as appropriate and the "wait-and-see" approach was reiterated. All said, we believe there is no reason for euphoria nor for being overly concerned, at least from an economic point of view.

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