We see sturdy hiring as a factor that continues to support U.S. economic growth.

Movements in the unemployment rate will tell Fed officials whether growth is absorbing unused capacity.

The really surprising thing is the lack of inflation given this kind of growth.

Trade is a drag (on growth) and that tends to hit manufacturing harder than the rest of the economy.

At the margin they reinforced our growing sense that Fed tightening might stop before the federal funds rate reaches the 5 percent level we are currently forecasting.

It's debatable how much the dividend-tax elimination will stimulate the economy, particularly in the short run.