Although the growth of the U.S. economy is expected to slow temporarily due to the effects of hurricanes, it is expected to basically continue to expand at a pace around its potential growth rate, partly since there is likely to be reconstruction-related demand.
In practice, this means the EU should strive for the full, timely and consistent implementation of the Basel III accords. Third, we should strive for more proactive use of macroprudential policy space. In times of relative ease, we should prepare the financial sector for when the tides turn. As they always do.