Suggesting Trump’s economic plans can spark growth closer to 3% is ‘wishful thinking,’ Obama adviser says

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Economists noted that the details of President-elect Donald Trump’s economic policies will be important but aren’t yet known

CHICAGO (MarketWatch) — Republican economists were upbeat Saturday that President-elect Donald Trump’s economic policies could get the economy growing closer to a sustainable 3% annual rate, but the suggestion was greeted with skepticism by a senior member President Obama’s economic team.

At the moment, the Congressional Budget Office estimates the economy’s sustainable growth rate is 1.8%, down from a historical rate above 3%.

During a bipartisan panel discussion at the American Economic Association meeting, Glenn Hubbard, dean of the Columbia University Business School, said Trump’s plans could get GDP growth “up to 2.75% or so.

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