President Donald Trump’s corporate tax cut and his business deregulation efforts are not just an economic “sugar high,” former Federal Reserve governor Kevin Warsh argued on CNBC Thursday.
Most economists “never thought the economy could grow this fast,” said Warsh, who had been on the president’s short-list for Fed chairman before Jerome Powell was chosen.
The government’s final reading of second-quarter gross domestic product showed an advance of 4.2 percent on an annualized basis. The Atlanta Fed’s GDPNow real-time indicator put the third quarter gain at 4.1 percent, as of Monday.
