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: #87, November 2017

The Longbrake Letter
- Bill Longbrake
As prospects rise for significant tax reform legislation to be enacted and take effect at the beginning of 2018, this stimulus boost is likely to extend the current expansion and push off the timing of the next recession. But, because the stimulus is coming during the mature phase of the cycle when the economy is already at full employment, it raises the risks of overheating and a potentially tighter monetary policy down the road. Amplifying the business cycle at this point in time is not optimal economic policy. But it is politically necessary for Republicans to deliver at least part of what they have promised to the American public. Bill Longbrake discusses prospects and risks in this month's letter. He also describes significant policy developments coming out of the 19th Communist Party Congress that will shape China's social and economic systems for years to come.

A Small Step Forward on Addressing the Problem of False Claims Cases
- Bob Barnett
With the speech by the Secretary of HUD in October, it seems a propitious time for HUD and DOJ to make modest changes in the FHA defect taxonomy and the DOJ litigation guidance to begin to mitigate the harmful effects of the False Claims Act on FHA lending.

CFPB Director Succession
- Jim Sivon & Katie Wechsler
This is our analysis of the options for filing a vacancy at CFPB. Subsequent events since the writing of this article have led to litigation over these competing approaches.