Yet many economists say there are few signs so far that the tax cuts are making much of a difference in overall economic output. Steve Blitz, chief economist at the consultant TS Lombard, said he's seen "zero" impact, though he does expect businesses to eventually increase capital spending on such things as new plants, technology and equipment.
"All that's really occurred so far is that it's put more cash on corporate balance sheets," Blitz said in a phone interview. Corporate treasurers are investing much of that money in U.S. Treasury bonds or putting it into accounts at banks, which also often put money into Treasuries, he said. "That money is being lent to pay for the deficit."
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