Trump Budget Sees Jobless Rate Falling Sans Inflation Boost
Like the spending request itself, the economic assumptions may turn out to be more wishlist than reality.
Key Takeaways From Trump's Budget Proposal
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President Donald Trump’s budget proposal counts on a unlikely mix of faster growth, lower unemployment and tame inflation. Like the spending request itself, the economic assumptions may turn out to be more wishlist than reality.
Inflation, based on the consumer price index, will average 2.1 percent in 2018, 2 percent next year and 2.3 percent in the long run, according to assumptions published Monday in the White House budget proposal. The economy is seen expanding 3.1 percent this year and 3.2 percent in 2019, following 2.5 percent in 2017. The jobless rate, currently 4.1 percent, may average 3.9 percent in 2018 and 3.7 percent in 2019.