Government Shutdown Could Reduce GDP Growth
The S&P 500 rose in the third quarter, resulting in a nearly 20 percent rise year to date. The Federal Open Market Committee surprised the markets when it decided not to taper its policy of quantitative easing on bond purchases. The housing recovery continued but at a slower pace. Likewise, job creation is expected to continue, but we believe progress will be slow. The recent government shutdown will affect housing and durable goods in the short term, but the debt ceiling agreement means there will be little long-term effect.
Learn more about how the economy fared in the third quarter of 2013 and what's ahead for 2014 by reading my latest Investment Overview.