A departing top economic adviser to Donald Trump said the chance of hitting the president's growth target this year is becoming less certain amid risks from the trade war and a ballooning budget deficit.
There's increasing uncertainty about America's ability to hit the 3 percent growth goal that Trump has said the world's biggest economy will surpass under his policies, said Kevin Hassett, chairman of the U.S. Council of Economic Advisers. Trump tweeted Sunday that Hassett, who was confirmed in September 2017, will leave the position “shortly.”
“I'm still at 3 percent for the year, but the point is: The uncertainty about the forecast is much higher than the last time we talked,” Hassett said on CNN on Monday, after being asked about the impact of the U.S. trade war. Growth in the second quarter was likely closer to 2 percent, he said. GDP expanded at a 3.1 percent annualized rate in the first quarter.
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