Economics

Economic Update - December 2017

Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank.

Robert Spendlove and Joseph Mayans Dec 20, 2017

The U.S. economy gathered steam throughout 2017 and is looking to continue its momentum into 2018. Despite an early-year mismatch between the soft economic data and fundamental hard data, the U.S. economy found its footing in the second-half of 2017. Over the past couple of months, the U.S. labor market has continued to show its resilience despite two massive hurricanes and multiple wildfires; economic growth has surpassed 3 percent; equity markets have reached all-time highs; and consumer confidence has soared to levels not seen in 17 years; all the while, Bitcoin rose to mainstream prominence.

Yet, in the face of these strong trends, there have been curious signs of weakness. Inflation has remained persistently below the Federal Reserve’s preferred level of 2 percent, and wage growth has been frustratingly lackluster. These will be two of the top trends to watch in 2018 and of major interest to policy makers and officials at the Federal Reserve.

Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank, for an economic wrap-up of 2017 and an outlook for 2018.

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