US GDP grew at a strong 2.6% annualized rate in 18Q4, resulting in CY2018 GDP growth of 2.9%, and growth of even 3.1% if comparing 18Q4 from a year earlier. However, no matter how measured, growth is slowing. It was 3.4% in 18Q3; 4.2% in 18Q2. In CY2019, growth will slow to 2.4%, and to 2.1% in CY2020 as the impact from tax cuts and spending increases completely dissipates.