Quick Looks
- The economy enters 2015 with considerable forward momentum especially from the labor market which added three million jobs in 2014, the best year since 1999
- Despite stronger employment and GDP growth, 10-year yields fell in 2014, indicating that many investors are not convinced that recent economic gains are long-lasting
- We believe the gains will persist and project the economy to grow almost 3.5 percent in 2015, as lower gasoline prices spur household spending. We also expect the Fed to raise rates by mid-year, though the pace of increases thereafter is likely to be slower than in the past
RCF’s latest publication, Economic Update and Forecast for January 2015 is available for download:
RCF_Economic_Update_and_Forecast_January_2015
