Lower estimate for GDP in 2018
The CBO is out with their GDP estimate for 2018. They see growth at 3.1% vs 3.3% in April. That is despite a 4.1% growth in the 2nd quarter
They are also seeing growth in 2019 at 2.4%. That is unchanged from April's estimate.
The CBO says that higher US tariffs could add to inflationary pressure and trade policy could discourage business investment.
The estimates are below the White House's projections/thoughts. Pres. Trump said last week that GDP growth could be 5% in the 3rd quarter.
