Economics

Mnuchin Outlook for Sustained 3% Growth at Odds With Forecasters

Trump economic team cheerleads economy after strong Q2 growth
Federal Reserve’s longer-run growth expectation is 1.8%

Mnuchin’s rosy outlook on the economy is at odds with that of economists and the Fed. Bloomberg’s Ros Krasny reports.(Source: Bloomberg)

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By David McLaughlin and Rich Miller

July 29, 2018 at 1:23 PM UTC

Updated on

July 29, 2018 at 2:53 PM UTC

This article is for subscribers only.

The second-quarter surge shows the U.S. economy is “well on the path” for four or five years of sustained annual growth of 3 percent, said Treasury Secretary Steven Mnuchin -- a rosy outlook at odds with that of many economists as well as the U.S. central bank.

“We can only project a couple years in the future, but I think we’re well on this path for several years,” Mnuchin said on “Fox News Sunday,” as President Donald Trump’s economic team fanned out across morning talk shows to cheer-lead the economy.