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Canada Goose online President Trump has been pledging that his policies will ramp up economic growth. His goal has been to double the growth rate of recent years to about 4 percent sustained annual growth. Now, it happened, and it was announced today, and he’s taking credit. Canada Goose online
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canada goose uk outlet PRESIDENT DONALD TRUMP: I am thrilled to announce that in the second quarter of this year, the United States economy grew at the amazing rate of 4.1 percent. canada goose uk outlet
CORNISH: We’re joined now by NPR’s Chris canada goose Arnold. He’s been following all of this. Hey there, Chris.
CHRIS ARNOLD, BYLINE: Hey, Audie.
Canada Goose Parka CORNISH: The president was happy. How big a deal is this for everyone else, for the economy? Canada Goose Parka
ARNOLD: Well, 4 percent growth is a potentially very big deal. And we should start by saying, look; the economy is growing at a very healthy pace. It’s growing faster than it has in the past few years. Part of this has to do with the tax cut, that people have a little more money in their canada goose coats wallets. They’re spending that. Business investments played a role, too. And, you know, if that 4 percent rate could be sustained and this 2 something canada goose deals percent growth rate up to 4 percent doesn’t sound like much, but, I mean, that would just be huge for the standard of living for most Americans higher wages very big deal.
But we should also note that canada goose store even the president himself who is congratulating himself on all of on this one good quarterly number Canada Goose online seemed to back away a bit from his earlier claims of long periods of 4 percent growth. And most economists still think that that’s highly unlikely. We talked to Ian Shepherdson. He’s chief economist with Pantheon Macroeconomics.
canada goose coats IAN SHEPHERDSON: Well, 4.1 percent is not sustainable. It’s as simple as that no chance. The idea that we could run at 4 having been trending more like 2 1/4, 2 1/2 is Canada Goose Jackets just nonsensical. canada goose coats
CORNISH: Now, Chris, if that’s so, what’s driving this canada goose clearance big 4 percent number, and why does canada goose coats on sale Shepherdson think that it Canada Goose Parka won’t continue?
ARNOLD: Well, the reason it won’t continue has also to do with what’s driving it now. And so, OK, the tax cut that’s giving a boost now. But, you know, the tax cut gives a boost early. People got a big boost, a pay raise, if you will. But that’s not they’re not going Canada Goose Outlet to get another big tax cut next year and the year after that and the year after that. So the impact of that will fade. And another reason has a lot to do with something else that the president brought up today, the trade deficits and exports. Let’s hear what he had to say about that.
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uk canada goose TRUMP: Perhaps one of the biggest wins in the report and it is indeed a big one is that the trade deficit, very dear to my heart because we’ve been ripped off by the world, has dropped by more than $50 billion. uk canada goose
ARNOLD: Now, it’s true. That’s an increase in exports. That sounds good. It boosted the economy. But https://www.pick-canadagoose.com the president left a lot unsaid there.
canada goose uk black friday Canada Goose sale CORNISH: So explain what’s happening with that. canada goose uk black friday
uk canada goose outlet ARNOLD: OK, so obviously we’re in a trade war. And that in this perverse way boosted growth in just this one quarter because China was getting ready for these soybean tariffs that were coming into play. uk canada goose outlet
But now that the tariffs are in place, that’s going to reverse. There won’t be all these soybean purchases. Ian Shepherdson who we just heard from says half of that change in the trade deficit was due to this sort of quirk of soybean buying. And now that the tariffs have kicked in, all this is going to be a drag on growth going forward.
Canada Goose Online CORNISH: Given all that, what are you hearing from economists about growth going forward? Canada Goose Online
canada goose buy canada goose jacket cheap clearance ARNOLD: One we talked to is John Silvia. He’s the chief economist of Wells Fargo. Here’s what cheap Canada Goose he had to say. canada goose clearance
JOHN SILVIA: Well, I think canada goose black friday sale if we buy canada goose jacket can get the trade issues resolved without a lot of hoopla and problems but, canada goose clearance sale you know, again, that’s a big assumption. But if we can get the trade assumptions straightened out, oh, you get 2 1/2 to 3 percent growth is probably a pretty good number.
cheap Canada Goose ARNOLD: Pretty good number, not what the president had been promising to deliver. It’s worth noting, too, the third quarter GDP, the next round of numbers, comes out just about a week before the midterm elections. So expect some very big news canada goose outlet and attention around all of this plus whatever’s happening with the trade fight. And that’s, again, about three months down the road. There’ll be a lot of news about this. cheap Canada Goose
canadian goose jacket CORNISH: That’s NPR’s Chris Arnold. Chris, thanks so much for explaining it. canadian goose jacket
canada goose black friday sale SILVIA: You’re welcome. Thanks, Audie. canada goose black friday sale
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