U.S. Economy Growing Moderately in Fourth Quarter; Likely Missed Trump's 3% Goal in 2019
Courtesy of: Reuters, 30 January 2020
The U.S. economy likely maintained a moderate pace of growth in the fourth quarter, and probably again fell short of attaining the Trump administration’s coveted but elusive 3% annual growth target because of slumping business investment amid damaging trade tensions.
The Commerce Department’s snapshot of gross domestic product on Thursday will likely show the Federal Reserve’s three interest rate cuts in 2019 helped to keep the longest expansion in history, now in its 11th year, on track and avert a downturn.
