My favorite parts…yay for the forgotten man!
U.S. GDP growth will rise to 2.8 percent in 2018, 2.4 percent in 2019, and 2.0 percent in 2020. That’s according to the most recent forecast released at the Federal Open Market Committee meeting on June 13, 2018. This estimate takes into account Trump’s economic policies.
The unemployment rate will drop to 3.6 percent in 2018, and 3.5 percent in 2019 and 2020. That’s lower than the Fed’s 6.7 percent target. But former Federal Reserve Chair Janet Yellen admitted a lot of workers are part-time and would prefer full-time work. Also, most job growth is in low-paying retail and food service industries. Some people have been out of work for so long that they’ll never be able to return to the high-paying jobs they used to have. Structural unemployment has increased. These traits are unique to this recovery.