Trump boosted U.S. growth, Reserve Bank President says

James Bullard St. Louis Federal Reserve Bank President credited President Donald Trump with boosting economic growth in the United States. He also mentioned that our President did it in a way, which should be sustainable.

„I think that the political change had an influence; I think that this is a pro-business administration that wanted to pursue strategies that were focused on economic growth,“ he told reporters after the speech for CFA Society Chicago, in which he pointed out the reduction of the corporate tax rates and how it improved businesses in the U.S. during Trump Administration.

Bullard said that the U.S. economy would grow by about 3% in the year 2018. Also, he made a prediction that currently is our economy capable of sustaining at least a 2% annual growth rate, which economists refer to as „the potential growth rate. “

Bullard is strictly against raising interest rates any further by the Fed because there is a danger of an inflation surge.