U.S. Economic Outlook

The U.S. economic outlook for 2025 appears solid, driven by several positive factors, including strong consumer health and potential increases in capital spending. While challenges exist globally, the U.S. labor market remains robust, with stable wage growth around 4% despite fluctuations in inflation. Historical comparisons indicate that the current productivity growth aligns with acceptable wage growth levels, supporting the economy's health under the new administration. Policymaking will focus on immigration, tariffs, tax reform, and deregulation, forming the foundation for expected improvements and growth in the coming year.