U.S. economic growth is expected to “gradually” slow over the next four years, Congress’ nonpartisan budget scorekeeper predicted
U.S. economic growth is expected to “gradually” slow over the next four years under the weight of President Donald Trump’s trade policies, less consumer spending and an ebb in government buying, Congress’ nonpartisan budget scorekeeper predicted Wednesday.
The forecast follows a bond inversion this month that has economists concerned the nation is headed toward an economic downturn, since such a flip has occurred before every recession since the 1950s. But the president and his economic advisers say the economy will keep humming long enough for Trump to clinch reelection in 2020.
The budget office predicts interest rates will continue to drop, lowering borrowing costs and potentially preventing the deficit from topping $1 trillion this year.
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