The jobs report represented a rebound from weak December and January readings; but it was not so robust that investors might conclude that an actual Fed rate hike might be near. Positives in our outlook include the potential for a strong spring season in the housing market, improving consumer confidence, and reduced political gridlock in Washington as government spending and outlays become better aligned. Risks in our GDP outlook include geo-political events, such as a worsening in the Ukraine situation; the potential for inflation; higher energy prices; and deceleration in emerging economies.