New York Fed Now Projects 3.9% GDP Growth in Fourth Quarter…
Another week – another set of weekly economic data – another upward forecast of anticipated 4th Quarter GDP growth. Two weeks ago the Fed raised the 4th quarter growth projection to 3.2%. Last Week they revised that up to 3.8%. This week they have revised it upward again to 3.93%
Remember, just a little while ago all of the Wise Men in the Obama Inner and Outer courts were telling us all to get used to this “new normal” of less than 2%? We were told that we could NEVER duplicate the faster paced US economies (re: Reagan) – times had changed. Thus far, these last three quarters have been 3% or better. Trump made a promise that he’d raise the economy to 4 to 5%. If the newest Fed prediction is right, that’s more than twice the average of the Obama years. Then it remains to be seen if it stays there.
(H/T: Conservative Treehouse)