Editor's Note: This is a monthly publication on economic trends and financial policy issues. In this publication you can read "The Longbrake Letter", an analysis of economic trends and conditions written by Bill Longbrake, as well as commentary on financial regulation and policy written by members of the law firm Barnett, Sivon & Natter, P.C., a Washington, DC based law firm that specializes in financial services law. The lawyers in the firm are also counsel to the international law firm, Squire Patton Boggs.

ISSUE: #82, May 2017

The Longbrake Letter
- Bill Longbrake
Good times prevail. In spite of the incessant noise coming from our nation's capital, financial markets appear to be unphased, as stocks ascend to new heights almost daily. The current U.S. economic expansion has reached eight years. It is the third longest on record and in 18 months will capture the all-time longevity title. Although the expansion is mature and some “yellow flags” are emerging, there is a reasonably good chance that the record will be broken. In this month's letter, Bill Longbrake provides updates on GDP and its components, employment, inflation, productivity, and interest rates.

PHH – The Case that Keeps on Giving
- Bob Barnett
The CFPB PHH case continues on its way, now having had its oral argument before the en banc panel of the DC Court of Appeals. The remaining possibilities for the track of this case to its ultimate conclusion has many possible fork, all of which can generate interesting discussions.

Oral Arguments in PHH v. CFPB
- Austin Harrison and Katie Wechsler
In this article, we provide a brief summary of the procedural posture of PHH v. CFPB review the main points of discussion in the May 24 hearing before the U.S. Court of Appeals for the D.C. Circuit, and outline expected next steps in the case.