As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by TheHill.com:
The Trump administration is telling Republican lawmakers to expect blockbuster economic figures Friday morning when the Commerce Department releases data on U.S. gross domestic product (GDP) for the second quarter.
Kevin Hassett, the chairman of the Council of Economic Advisers, told Republican senators in a private meeting Wednesday that GDP for April through June is expected to be high enough to ensure the nation will see its first year of annualized 3 percent growth since the Great Recession of 2008-2009, according to several sources in the room.
“He’s not ruling out a very big number,” said one grinning GOP senator who attended the meeting.
The article goes on to state the following:
Hassett told GOP lawmakers that Friday’s figure is likely to be strong enough to put this year’s GDP on track to exceed 3 percent, something that never happened under former President Obama and a major Republican criticism of his administration during the 2016 campaign.
“The Atlanta Fed estimated it can be as high as 4.8,” said Sen. David Perdue (R-Ga.). “It’s going to be very strong.”
“It’s a manifestation of what we did starting last year with the regulatory work — the pullback of regulations — the energy work that we did, the tax work and the Dodd-Frank,” he added referring, to the repeal of 14 Obama-era regulations, tax reform and the loosening of regulations tied to the 2010 Dodd-Frank Wall Street Reform Act.
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