Economics
Everything's Coming Up Rosy in Trump Budget Economy Scenario
- Growth seen accelerating while inflation, unemployment steady
- Projections counter conventional wisdom from economists
Rep. Brat Says Budget to Bring Economic Growth to U.S.
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The Trump administration sees the U.S. economy achieving the rosiest of scenarios over the next decade -- a surge in growth that doesn’t spark a worrisome jump in inflation or tighten the labor market any further.
Economic growth is projected to climb by 2020 to 3 percent, the Trump administration’s oft-stated target, according to assumptions published Monday in the White House’s budget proposal. At the same time, the unemployment rate will rise only modestly -- to 4.7 percent in the same year -- and inflation, based on the consumer price index, will be 2.6 percent this year and 2.3 percent each year for the next decade.