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Message: <blockquote data-quote="floridays" data-source="post: 3308465" data-attributes="member: 68849">I'm an economic illiterate, please tell me what the following means in layman's terms, and how and why he takes this position. Despite his longer-term pessimism, Dudley raised his outlook for 2018 GDP growth from 2.5 percent to 2.75 percent. He also expressed confidence that inflation will continue to tick up until it meets the Fed's 2 percent goal for healthy growth.For the long term, he warned not only of the costs the tax cuts will impose on the deficit but also damage down to high-end housing by elimination of state and local property tax deductions.</blockquote>