Fed to complete QE taper with GDP growth still strong

Recent financial market volatility won’t prevent the Fed from announcing an end to its asset purchases this week, at the conclusion of the two-day FOMC meeting on Wednesday. The bottom line is that the economic outlook remains strong. Our calculations indicate that real GDP expanded at a 3.3% annualised pace in the third quarter (data due on Thursday), boosted by a strong positive contribution from net external demand.

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