US economy predicted huge growth

11 months ago

Lawrence Cadlow, head of the White House National Economic Council, predicted huge growth for the US economy in the second half of 2020. He shared this opinion on Thursday in an interview with Fox Business, TASS reports.

According to him, in the third and fourth quarters of this year, the US economy will grow by 20 percent. “Given the market situation this morning, there is a growth trend,” he said. So he commented on the words of the chairman of the US Federal Reserve System (FRS) Jerome Powell, who said about the “continuing great uncertainty about the future” of the US economy.

In addition, he expects that in 2021 the growth of the US economy will be at least 4 percent.

Earlier it became known that the US national debt reached $ 26 trillion and set an absolute record. It grew by a trillion dollars in a month. The sharp increase is associated with budget expenditures to combat the coronavirus pandemic and deferred tax payments, the country’s Ministry of Finance notes. From the moment Donald Trump headed the White House, borrowing has grown by six trillion. According to estimates by the International Monetary Fund (IMF), public debt can increase to 131.1 percent of GDP in 2020.

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