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Trump blames the Fed for his failure to deliver on his (ridiculous) GDP growth promises. Worth noting that interest rates today are actually well below what Trump's OMB had anticipated they'd be at this point, and GDP growth is still underdelivering nyti.ms/2NSf0jd
In its most recent forecasts, released last summer, WH predicted GDP would grow at >3% pace in 2019 & 2020. That was based on assumption that three-month bills would average 2.4% both years. Three-month bills are at ~1.5% now whitehouse.gov/wp-content/upl…
despite a more-accommodative-than-WH-expected Fed, and despite massive fiscal stimulus (tax cuts + spending hikes), GDP growth is anticipated at well below administration promises: around ~2.3% for 2019, rather than the 3.2% that OMB forecast or the 4-6% Trump personally pledged
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