U.S. economy’s growth won’t be yuuuge under President Donald Trump, economists say

Donald Trump on Super Tuesday. (Allen Eyestone/The Palm Beach Post)

The U.S. economy won’t make good on President Donald Trump’s campaign promise to conjure up a growth rate of 3 percent, according to economists surveyed by Bankrate.com.

Fully 95 percent of forecasters say the economy isn’t likely to reach sustained annual growth of 3 percent or higher during Trump’s first term, the Palm Beach Gardens-based site reported Thursday.

“Even if all the administration’s proposals are implemented in their most pro-growth form, slow labor force and productivity growth act as speed limits and will prevent sustained growth of 3 percent or higher,” Mike Fratantoni, chief economist at the Mortgage Bankers Association, told Bankrate.

Trump has vowed that a combination of lower taxes, lighter regulation and stricter protections on trade will unleash economic growth.

 

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