President Trump says that the U.S. economy’s GDP growth would have been closer to 4 percent if it weren’t for the lingering effect of Federal Reserve rate hikes. - CNBC
The president’s remarks Wednesday echoed those his top economic adviser, Larry Kudlow, made to CNBC on Tuesday, when he predicted 3 percent growth in U.S. gross domestic product in 2020.Kudlow said Tuesday
. “You’ve gone from 1.5 percent to 2 percent growth. We had it going at almost 4 percent, then the Fed tightened.” Manufacturing and trade data released this month suggested the American economy ended 2019 on a strong note. The economy is expected to grow more than 2 percent in the fourth quarter. That would represent a slowdown from the 2.9 percent increase in 2018, and 2 percent growth would still suggest the decade-old expansion is set to continue into this pivotal election year.
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