c) Risks emanating from the United States Currently, the greatest source of uncertainty that could have important impacts on our economy relate to fiscal expansion (on the upside) and an increase in trade protectionism (on the downside) in the United States.
The CBO’s 2017 estimate is slightly higher than the median of FOMC participants’ most recent projections of the  30  This measure of core import prices is constructed by Board staff using published and unpublished data provided by the Bureau of Economic Analysis and the Bureau of Labor Statistics.