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Economics

Trump Forecasts 2020 Growth Above 3%. Economists Disagree

  • Bloomberg survey shows analysts expect 1.8% GDP growth in 2020
  • White House budget forecast predicated on adoption of policies
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Feb. 7: Fed Has Given Economy a Cushion and Should Cut Mid-Year, Economist Swonk Says

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President Donald Trump assumes economic growth above 3% this year in his annual budget proposal, exceeding mainstream analyst forecasts and other key authorities in Washington.

The White House proposal for fiscal 2021 says gross domestic product growth will climb 3.1% in the fourth quarter of 2020 from a year earlier, followed by 3% expansion in 2021, according to a senior administration official. Growth will step down to 2.8% in the final two years of the decade, in line with prior White House expectations, according to the person who asked not to be named because the proposal is not scheduled to be released until Monday.