US policy uncertainty is at its lowest level since the global financial crisis.
“That’s noteworthy against the view that US monetary policy has become more difficult to read in light of recent Fed communications,” said UBS economist Andrew Cates. “It bodes well moreover for the broad US economic outlook from here inasmuch as business and consumer confidence have clearly suffered in recent years owing to the uncertainty about which direction economic policy might take.”
It can be risky to read too much into “economic certainty” indices. Everyone feels pretty certain about economic policy until they don’t.
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