0.5 0% 50 -1.0 0 15 e% 0 , # of meetings into tightening cycle -2.0 4% Q2-2013 Q1-2014. Q4-2014 = Q3-2015 — Q2-2016 Source: Federal Reserve Board, Bureau of Economic Analysis Nevertheless it is not our central scenario in part because there is a risk that much of a Trump surge could be bad for growth. As we noted above th

of 2017. Outlook | Investment Strategy Group 79 HOUSE_OVERSIGHT_014612 --- PAGE BREAK --- Abbreviations Glossary ACA: Affordable Care Act BEA: Bureau of Economic Analysis BIS: Bank for International Settlements BLS: Bureau of Labor Statistics BOE: Bank of England BOJ: Bank of Japan CAGR: compound annual growth rate

eduction could be claimed in the tax year beginning before or after the passage date in Oct. 2004. Approximately $300bn was repatriated, according to the Bureau of Economic Analysis (BEA)’s U.S. International Transactions Accounts Data, vs. an average of S60bn over the prior five years. The IRS estimates’ that 843 US companies to

6% 6% 2% == % Deviation from Trend -2% | -2% 2010 2014 Note: Real GDP per Adult Trend = 1.88% Average Annual Growth from 1Q1950 to 4Q2015 Source: Bureau of Economic Analysis, Bureau of Labor Statistics, Laffer Associates Even when a president’s term ends on a high note, as was the case with Presidents Kennedy, Reagan and

ess dense soil. Higher soil density and gravel estimates could require 2-4 more bombs. BLS BEA BP BTU CERA EIA E&P GAO IEA Bureau of Labor Statistics Bureau of Economic Analysis British Petroleum British Thermal Unit Cambridge Energy Research Associates US Energy Information Agency Exploration and Production Government Accoun

Vietnam 50 War 40 30 20 10 Reagan Buildup Iraq War (10) (20) 64 72 81 90 98 07 Trump? 16 Through September 30, 2016 Four-year moving average Source: Bureau of Economic Analysis and Haver Analytics occurred in the mid- 1960s, during President Lyndon Johnson's term, and ran for five years. That was tied to the military engagem