RCF Economic Update and Forecast Summary – October 2014

Quick Looks

  • Ebola fears exacerbated concerns of a global slowdown causing world stock markets to drop and interest rates to fall
  • Nevertheless, the U.S. economy is performing well, with rising consumer spending supported by strong job numbers and declining gasoline prices
  • Non-Residential investment rebounded from a drop earlier in the year, but the residential-housing side of the market has lost steam of late
  • We expect growth in excess of 3 percent over the next 12 months, and think that by mid-2015, the Fed will begin the process of raising interest rates.  However, if growth falters, the Fed will be in no hurry to raise rates

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