My Best Growth Forecast Ever
The Trump administration's tax reform of 2017, which took effect in 2018, was viewed prospectively, and now retrospectively, as a contributor to US economic growth. But there was – and remains – a great deal of controversy over the size of the macroeconomic effects of the tax changes.
https://prosyn.org/OEGz53b
CAMBRIDGE – America’s real GDP growth rate of 3.2% for the first quarter of this year is impressive, as was the 3% average growth in 2018 (measured from the fourth quarter of 2017 to the fourth quarter of 2018). Since the end of the Great Recession – from 2011 to 2017 – the US economy grew by only 2.1% per year, on average. What accounts for the recent acceleration?