U.S. economic data continues to improve and last week’s strong reports were no exception, suggesting an uptick in fourth quarter growth and overall U.S. economic expansion. Several major firms have recently updated estimates for U.S. growth. Last week also saw Federal Reserve (Fed) Chair Janet Yellen give an update on her thinking about the timing of a rate increase. Unless something unexpected happens in the next few weeks, the Fed should increase short-term rates by 25 basis points at its December meeting.
In the short week ahead, we get quite a bit of economic data. Look to the release of the November meeting Fed minutes on Wednesday for more information around the Fed's thinking. The transition to the Trump administration will also be front of mind to market participants, as more key cabinet positions should be announced this week.
Have a very Happy Thanksgiving!
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