Economists Say Trump’s GDP Growth Goals Are Unreasonable
President Donald Trump promised to create more jobs and stimulate huge economic growth during his campaign, but many economists wonder whether his expectations are realistic.
That is according to the consensus view at the National Association of Business Economics’ Economic Policy Conference, where liberal and conservative economists alike said high 2% gross domestic product growth is the limit of what is possible in 2017, Commercial Property Executive reports. But Trump thinks 4% GDP growth is likely, and he even instructed White House staff to assume that figure when preparing budget projections.
Experts said the commercial real estate market is nearing the end of a multiyear boom in price appreciation, noting the Moody’s/Real Capital Analytics all-property index is up 104% since January 2010. Economists also said the president’s growth goals are unreasonable because a large portion of the Congressional Budget Office’s projected growth in the U.S. labor pool comes from immigration, something Trump is trying to limit.