US growth on track once the debt ceiling impasse is overcome

Today's commentary
Summary: I expect the debt ceiling impasse to be overcome today as a result of a Senate-brokered deal. With this manufactured crisis out of the way, we can concentrate on earnings and on the economy. While US growth is on track, I expect earnings growth to be weak and growth to ebb from this point in the cycle forward.
The Politics
As I wrote last night, US Senate leaders Mitch McConnell and Harry Reid have brokered a deal that looks to have buy in to be able to win approval in both the Senate and the House of Representatives. Most commentators expect this legislation to pass and be signed by President Obama later today. With default off the table, the US economy can regain its normal footing and the news flow will turn to other subjects.
The brokered deal does almost no...


As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.

Click here to join. Your readership is greatly appreciated!

Registered users can log in by entering details here or below.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More