Opinion: The last major obstacle to maintaining 3% to 4% growth is the deflationary monetary policy of the Federal Reserve, write Stephen Moore and Louis Woodhill
Now that the Trump administration appears to be closing in on a trade deal with China, and thus hopefully averting a damaging tariff war, the U.S. economy is positioned to grow at 3% to 4% over the next several years. The Tax Cuts and Jobs Act of 2017 and two full years of pro-business regulatory relief already ramped up growth to 3.1% over the past four reported quarters—the best performance since 2005.
The last major obstacle to staying on this path is the deflationary monetary policy of the Federal Reserve. The deflation...Chief White House economist Kevin Hassett was right about growth in 2018. Former Obama and Clinton adviser Larry Summers wasn’t. Image: Getty
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