The most important global strategist of the JPMorgan of Financial Services says that the growth projections of the White House are unfeasible for the US economy.
In a new interview with CNBC television, JPMorgan director David Kelly says that the 3% projected growth of the White House is not logical for the economy, because the US does not have the means to stimulate productivity.
According to Kelly, baby boomers who retire and shrink the number of employment will influence the growth of the US economy. Although he says that 3% is untenable, he imagines the economy that is growing in part.
“I don’t see how we will do that. To do that, you have to stimulate productivity, because if you look at the economic growth of the US, in the long term, so far this century, it is about 2%. That is 1.5% of productivity and 0.5% of the growth of labor.
The problem is that the baby boomers are retiring, the age -old age population born in nation shrinks, so if you get immigration without employment growth without net and that means that [you grow] 1.5%, not 3%. Now we can do better than 1.5%, but we are not almost 3%. There is nothing in the prospects that tells me that we can maintain a growth of 3%. “
The projection of the White House for the growth of the US economy is related to the latest expenditure account of President Donald Trump, including extensions on tax benefits and is currently voting in the congress.
https://www.youtube.com/watch?v=FF9_Uorn8KW
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