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US Current Economic Conditions
Crude Oil
The U.S field production of crude oil has been relatively constant over the last five years. However, the production has continuously been increasing in 2018 with the decline in September 2018. The crude oil production is expected to rise in the next months as the economy is recovering fully from recession (Amadeo 1). The economy, however, faces significant risks due to the volatility of the crude oil prices which can affect the economy at great lengths. The US government need to put in place a monetary policy instrument aimed at controlling inflation such as open market operations as a rise in crude oil prices would bring about inflation.
Housing Affordability
Housing affordability has been gradually decreasing from the beginning of the year 2018, but it has increased from June 2018. The housing affordability will continue to rise in the next few months. Affordable housing is of great importance, and therefore loans for housing and mortgages need to be looked at when formulating monetary policies. The government should maintain low discount rates on loans to commercial banks to make credit available for housing loans.
New Home Sales
The number of new one-family houses sold was highest in 2005 with 1,400,000 units sold. Until 2010 the number has been continually falling, but there has been an increase up to the year 2018. The units sold will increase for the next years. The new home sales have a great positive effect on affordable and good housing (Amadeo 1).

Expansionary monetary policy on bank discount rates is recommendable since it avails credit for construction of new homes.
Existing Single Family Home Sales
Existing single-family home sales have been decreasing since March 2018 as compared to the previous months where the sales were fluctuating. The number of units sold is expected to reduce to an even lower level. The decrease is an indication that the cost of constructing new homes has gone up. The monetary authorities should increase credit availability to citizens for funding loans.
Total Construction Spending
Total construction spending has gradually increased since 2011 up to 2018 with minimal fluctuations. It is however expected to decline in the short-run due to the current tax policies in place. High construction spending indicates a high demand for credit from banks and reduced cost of housing. The US government will need to formulate expansionary monetary policies to increase the credit available to fund the high construction spending.

Work cited
Amadeo, Kimberly. “US Economic Outlook for 2018 And Beyond.” The Balance, 2018, http://www.thebalance.com/us-economic-outlook-3305669. Accessed 24 Oct 2018.