1q18
The U.S. macroeconomic environment remained relatively healthy during the first quarter as 4th quarter GDP was revised upward from 2.5% to 2.9%. The U.S. unemployment rate of 4.1% is the lowest since 2000 while inflation pressures remain modest given the length of the economic expansion and tight labor markets. Several geopolitical issues continue to drive uncertainty about future global economic growth, including President Trump’s actions relating to trade negotiations and potential conflict with Russia and North Korea given recent sanctions over their threatening behavior.