CNBC -President Donald Trump's central claim about his economic policies officially crashed into reality. Throughout the 2016 campaign and since, the president and his party have vowed to kick-start tepid Obama-era economic growth. Specifically, they insisted tax cuts and deregulation would return growth to its post-World War II average of 3 percent — a level, candidate Trump said derisively, that President Barack Obama became "the first president in modern history" never to reach in a single year.
New government data on Thursday morning show that Trump, too, has failed to reach the 3 percent promised land, according to one major metric. The Commerce Department's Bureau of Economic Analysis measured 2018 growth at 2.9 percent, matching the peak Obama enjoyed in 2015.
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Sorry, there are these annoying things called interest rates that have a proven tendency to dampen economic output and those are controlled by the Federal Reserve - which is not accountable to Congress or the President and are in fact controlled by the banking industry.
They kept these very low for Obama and then started raising them ever since Trump took office.
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