The National Federation of Independent Business reports its index of small-business optimism rose 3.7 points to 107.5 in November, the second-highest reading its 44-year history. Eight of the 10 components increased, led by what NFIB calls a “stunning and rare 16-point gain in expected better business conditions” and a 13-point increase in sales expectations. That suggests small businesses anticipate stronger economic growth, perhaps as high as 4% annually in the fourth quarter.
The Federal Reserve’s Open Market Committee begins its two-day meeting today. The Fed will announce its interest-rate decision at 11 a.m. Pacific time on Wednesday. That announcement will be followed by departing Fed chairman Janet Yellen’s last news conference. The Fed is widely expected to raise the Fed Funds rate by a quarter point, for its third and final interest-rate rise of 2017, but investors want to see what it signals about 2018.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
