The full story on Trump’s ‘economic turnaround’
President Trump claimed credit for the strong economic growth numbers released on Friday morning, attributing them to his administration’s actions on taxes, trade, and regulations. The economy did grow at a 4.1% annual pace in the second quarter, the best in four years. But most of the statistics that Trump cited as evidence of “an economic turnaround of historic proportions” require context to be fully understood. For example, economic growth has topped 4% in four other quarters since 2009. And Trump’s claim that “we’re going to go a lot higher than these numbers” conflicts with the predictions of most bank and Federal Reserve economists, who forecast that growth will slow in 2019 and 2020. (7/27/18) Read more..