In general, uncertainty is viewed as an impediment to economic growth and progress. But uncertainty doesn’t last forever, it is produced by events which are unresolved.

The “uncertainty” trend comes as President Donald Trump and his administration make sweeping changes at a pace rarely seen in previous administrations — and sometimes then reverse those changes.

One important observation is that uncertainty about the economy may not always be in step with uncertainty reflected in financial markets. As we show in a chapter of the Global Financial Stability ...