Tax Cut Could Impact U.S. Economy Sooner Than Later

The transcript discusses the economic impact expected in early 2018, highlighting insights from JP Morgan Chase. It covers the influence of tax reform on GDP forecasts, noting the Fed's view of it as a temporary boost rather than a long-term change. The discussion also touches on inflation trends, suggesting that the soft patch of 2017 may not be worsening, but a return to target levels could take longer than anticipated. This could influence the Fed's monetary policy, potentially leading to a slower response.

What are the implications of the inflation data for the Fed's monetary policy next year?

What factors might influence the Fed's decision-making process regarding interest rates?