The economy is growing under President Trump. The Department of Commerce reported that Q3 GDP increased by 3%.
The United States economy grew faster than analysts expected for the third quarter of 2017, showing the strength of the Trump administration. The past 2 quarters of GDP represent the fastest growth since 2014.
The 3% GDP growth comes from business investments and consumer spending. Obama was unable to sustain 3% economic growth for his entire presidency so this is a Major accomplishment for President Trump.
Trump has created a more business friendly environment by slashing unnecessary regulations. Trump’s pro growth platform is breaking records across the board in several index measurements. Consumer confidence and factories are growing faster than they have in 13 years.
By the end of Donald Trump’s 2 terms in office, it’s likely that we will have achieved anywhere from 5-10% economic growth.
Brad McMillan, the chief investment officer for Commonswealth Financial Network said “From an economic framework, we absolutely have reasons for the market to move higher…The question is not so much why would markets move higher, but why wouldn’t markets move higher?”
It’s likely that the Federal Reserve will continue to raise interest rates as long as the economy continues to do well. Economists expect there will be another rate hike in December.
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