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Photo: Donald Trump (wikimedia by Michael Vadon)
The U.S. economy, according to Trump’s forecast, will restore its greatness next year.
The President of the United States, Donald Trump, expects the movement towards economic recovery to begin in the third quarter of 2020, as more and more states open up to business again. He said this in an interview with FOX Business.
According to him, the third quarter will be a transition to growth. “I call it the transition to greatness … We are going to be successful in the fourth quarter, and I think next year, with all the incentives, all the things that we have done, I think we will have one of the best economic years, that we’ve had, “Trump said.
According to United States Treasury Secretary Stephen Mnuchin, the government has already invested around $ 3 trillion in incentives in the economy.
Trump also wants a stronger dollar to accompany the economic recovery.
“This is a good time to have a strong dollar, because everyone, you know, we paid zero percent, right. That didn’t happen either. We paid very little. Everyone wants to be in the dollar because we kept it strong. I would keep it. strong, “he said.
While Trump praises interest rates at zero, he doesn’t rule out an even lower move, like Germany and Japan.
“If they get the advantage of negative rates, we should. I firmly believe that we should have negative indicators,” he said, speaking to journalists at the White House.
The United States had a strong economy before the coronavirus epidemic began, which closed industries, including retail stores, restaurants, airlines, and many others.
The unemployment rate, which recently hit a record low of 3.5%, rose to 14.7% in April, when more than 33 million people were left without a job.
As reported by RBC-Ukraine, the US economy. USA In the first quarter it contracted at the fastest rate since the financial crisis of 2008-2009. According to preliminary data from the US Department of Commerce. The gross domestic product fell 4.8% year-on-year during the first quarter of 2020.
As reported by RBC-Ukraine, the International Monetary Fund predicts a global economic decline of 3.0% in 2020, which is much worse than during the 2008-2009 financial crisis. According to the IMF forecast, in developed countries the economic decline will amount to 6.1% per year, incl. in the United States – by 5.9%
Posted by: Alexander Belous
