"Fed Echo Chamber": If the Republican Party controls both houses of Congress, the Fed may revise its basic assumptions in December.

On November 6, Nick Timiraos, the "mouthpiece of the Federal Reserve," wrote that Fed officials now face the question of whether the election outcome will lead to meaningful changes in economic demand or inflation, requiring a different policy path. Timiraos said officials will not change their policy course until they learn about President-elect Trump's proposals for reform in the areas of taxes, tariffs and immigration. But if Republicans also win control of both houses of Congress, they may begin to revise some basic assumptions at their December meeting. (Golden Ten)