CHART OF THE WEEK

 

Regulatory Onslaught Stopped in 2017

 

 

This week’s chart comes from the Council of Economic Advisers, the executive branch’s counterpart to JEC, which recently released the 2018 Economic Report of the President. The chart shows that publication of final rules (new regulations) plunged in 2017. Importantly, the reduction of new rules with a cost of $100 million or more per year (“economically significant rules”) was the largest percentage reduction since 2007. This regulatory relief is helping the U.S. economy recover its lost potential.

Note: JEC has two primers on the rulemaking process and the role of Congress in regulation, and published a commentary on the improved regulatory climate last November.

LAST WEEK

News & Commentary Weekly Highlights

Financial Times: US ‘too big to fail’ regime set for Trump overhaul

Wall Street Journal: How to Punish American Workers

Economics21: Fed Should Stop Paying Interest on Reserves

MarketWatch: Good news — the Fed’s shift to quantitative tightening might not be as painful as expected

Council of Economic Advisers Release

2018 Economic Report of the President

Top Economic Indicator Highlights

No major releases last week.

THIS WEEK

Upcoming Economic Data

Monday

Chicago Fed National Activity Index (8:30am)

New Home Sales (10:00am)

Dallas Fed Manufacturing Survey (10:30am)

 

Tuesday

Manufacturers’ Shipments, Inventories, & Orders (Advance) (8:30am)

Advance Economic Indicators Report (8:30am)

Home Price Index (S&P CoreLogic Case-Shiller) (9:00am)

Housing Price Index (FHFA) (9:00am)

Consumer Confidence (10:00am)

Richmond Fed Manufacturing Index (10:00am)

 

Wednesday

Gross Domestic Product (Second Estimate) (8:30am)

Chicago PMI (9:45am)

Pending Home Sales (10:00am)

 

Thursday

Jobless Claims (8:30am)

Personal Income/PCE Deflator (8:30am)

PMI Manufacturing Index (9:45am)

ISM Manufacturing (10:00am)

Motor Vehicle Sales (4:00pm)

Construction Spending (10:00am)

Federal Reserve Balance Sheet (4:30pm)

Money Supply (4:30pm)

 

Friday

Consumer Sentiment (10:00am)