The US economy is starting 2018 on strong footing. The Federal Reserve’s Beige Book observed that the economy ended 2017 strongly. 1-Unit housing permits – a key leading indicator – rose. And industrial production – a coincident indicator that has languished for much of this expansion – increased at a solid clip
On Wednesday, the Federal Reserve released the first Beige Book for 2018. It contained the following assessment of the macro-economy: