The U.S. has been a bright spot among advanced economies, partly thanks to President Donald Trump's $1.5 trillion tax reform. But the boost can't last forever.
div > div.group > p:first-child"> The $1.5 trillion tax reform initiated by U.S. President Donald Trump in 2017 has boosted the American economy, but the positive effect of lower corporate and individual taxes can only last so long, according to a Nobel-winning economist.
"We're in a boom, but all booms come to an end. This high level of output and employment cannot be sustained," he told CNBC's Martin Soong on Sunday at the China Development Forum in Beijing. "I would be surprised if the elevated level of investment continues much longer. Maybe another year, maximum two years," he said."Then, I think we're going to subside to a more normal level of employment and unemployment."
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