1 “... is improving. After slowing in the second half of 2016, growth has picked up in 2017, while recent geopolitical...”

2 “... economies—a shift toward protectionist policies, and an increase in geopolitical tensions...”

3 “... States economic policies, lower growth in China, and geopolitical tensions...”

4 “... highly uncertain global economic and geopolitical environment. Upside risks to the inflation outlook...”

5

6