Gross Domestic Product

GDP growth will remain near 2.5 percent. The U.S. economy gained steam throughout 2017, with GDP growth rising from 1.6 percent in 2016 to a projected 2.5 percent this year, according to the Federal Reserve. And economic expansion is expected to continue through 2018. But how high we fly largely depends on the effects of congressional tax reform.

“The U.S. economy has greater momentum than it has had in several years,” Richard E. Sylla, professor emeritus of economics at New York University, told WalletHub. “Tax cuts will add fiscal stimulus to a near-full-employment economy.”

The median Fed projection calls for another round of 2.5 percent year-over-year growth. That’s well below the 6 percent President Donald Trump predicted could result from tax reform but above the expectations of many economists.

We’ll stick with outgoing Fed Chair Janet

The S&P 500 will top 2,900 and finish at 2,838. We’re in the midst of a record bull market, with stocks posting gains for eight straight years (including 2017) and major indices breaking record after record. At 2,676 as of Dec. 15, the S&P 500 is up 19.5 percent year to date and at an all-time high. So, barring some big unforeseen downside sur-prise, the S&P will end 2017 with its biggest gain since 2013 — more than doubling the historical annual average.