Deutsche Bank Predicts Economic Expansion To Break 10-Year Record Under Trump Presidency
The US has been on a long, sluggish road to recovery since the financial crisis, and Deutsche Bank AG strategists predict the country could see healthy economic expansion from the new administration under President-elect Donald Trump.
The longest US economic expansion on record was 1991 through 2001, and Deutsche Bank strategists say there's a good chance the economy will continue its healthy streak to 2019 without a recession—surpassing that 10-year record, Bloomberg reports.
Economists surveyed by the Wall Street Journal also anticipate a Trump presidency will boost GDP, reduce taxes and invest in infrastructure, also resulting in higher interest rates to offset inflation. On average, the economists WSJ surveyed increased their growth estimates for the US economy to 2.2% in 2017, up from 1.5% over the past 12 months. Experts also forecast inflation will hit 2.2% next year and 2.4% by 2018, which if correct would be the first stretch of sustained inflation over 2% since before the Great Recession. [Bloomberg]