The market reaction to the release of the minutes of the March 2017 FOMC meeting supports this interpretation of the interaction of uncertainty and Fed policy communications.
Spending appears to be recovering from the initial cutback, but of course it is too early to assess how great the influence will be in the medium term. Although severely disrupted by the attacks, financial market operations and activity have nearly recovered, with the exception of some strains in the repo market. The initial direct disruptions proved to be short-lived.