Office of Management and Budget Director Mick Mulvaney said in an interview with NBC’s “Meet the Press” on Sunday that the fiscal 2018 budget will have the same level of deficit as projected previously under the Obama administration and noted that the Trump administration will aim to balance the budget within the next 10 years. During his campaign, President Trump said he would hold the federal budget deficit at current levels and start paying down the national debt, which stood at $19 trillion last year. Mulvaney emphasized that the Trump administration has managed to increase spending on policies promised to voters without increasing the budget deficit.
Stocks are down slightly as as falling oil prices weigh on shares of energy companies. April crude is off 0.9% to $48.36 a barrel.
Chicago Federal Reserve President Charles Evans, in an interview with Fox Business, said that he would support four rate hikes if the economic outlook holds up and inflation accelerated.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.