We’ll be waiting at least another month now for the Supreme Court ruling on the legality of President Trump’s IEEPA-related tariffs. That means we’re on Fed Chair watch next week, to see if Trump finally announces his nominee. The next Fed Chair will at least inherit an economy that is roaring. After a 4.4% annualised gain in the third quarter, we now estimate that fourth-quarter GDP growth was as strong as 5.4%.
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