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The Conference Board Economics Watch® United States View

The passage of tax plans through both houses of Congress means that some form of fiscal stimulus is likely to arrive early in 2018. Business confidence is already high, so an additional acceleration in investment is possible. Because the economy is already operating near full capacity and the plan creates large new debt obligations, the Federal Reserve is likely to tighten monetary policy more quickly, muting both the short- and long-term effects of the tax measures on the economy.

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