Lot of Hot Economy Talk… But No Action
President Trump’s economic agenda got a thumbs down from the International Monetary Fund. The IMF in April had raised the forecast for US growth to 2.3% for 2017 and 2.5% for 2018, based partly on gains from expected tax cuts and new federal spending. But given the lack of progress on the US administration’s “still evolving policy plans” the IMF said it had decided to remove the assumed stimulus from its forecasts.
So much for everyone getting all excited about President Trump’s economic agenda improving the economy. It did seem strange that a globalist group like the IMF would raise their forecast basically in support of what Trump was doing to improve the economy.