All Posts Tagged: tax reform

U.S. Outlook: Reading the tea leaves from the Loan Officer Survey

Scott Anderson
Chief Economist

The Federal Reserve released results from the April Senor Loan Officers Survey on Bank Lending Practices, which tracks changes in bank credit standards and terms and demand for bank loans from businesses and consumers of the last three months.

Middle-aged couple talking to a female banker, who's holding a pen.What stood out to us was continued broad-based weakness in loan demand from both businesses and households.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on May 11.

Key observations:

  • Banks reported that demand for commercial & industrial and commercial real estate loans weakened in the first quarter.
  • Banks also reported weaker demand for auto loans, credit cards, and most categories of residential real estate loans.
  • There is no evidence yet of a business investment or consumer spending surge coming from the U.S. banking industry.
  • Given the Federal Reserve’s determination to continue raising short-term interest rates into 2019, I don’t see bank lending conditions materially improving from here.

 

Read my full report.

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Investment Insights: Well that was taxing

Wade Balliet
Posted by Wade Balliet
Investment Strategy
Line of various professional people waiting outside an office.

The benefits should be felt across the spectrum for tax payers, with some ultimately benefiting more than others.

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Investment Insights: Jury-rigged tax cuts

Wade Balliet
Posted by Wade Balliet
Investment Strategy
Mechanical gear wheels, the center one has "tax reform" engraved on it.

Individual tax cuts may not only disappear but could become tax increases after a decade for half of American earners.

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U.S. Outlook: Let the tax reform fight begin

Scott Anderson
Chief Economist
US Capitol dome seen in middle distance on a sunny fall day with lawn and reddish-leaf trees in the foreground.

We are finally getting some concrete details on the size and shape of the likely tax reform package that is moving through the House.

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Investment Insights: Another 8 seconds

Wade Balliet
Posted by Wade Balliet
Investment Strategy
An image of the Tokyo Tower.

Just like riders at a rodeo, some investors have opted to try another go-around on the bull market – for as long as it may last.

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