Trump predicts unemployment rate below 4 percent

Trump predicts unemployment rate below 4 percent
© Camille Fine

President Trump on Monday predicted that the unemployment rate will dip below 4 percent during his tenure.

“Under President Trump unemployment rate will drop below 4%,” Trump wrote on Twitter.

“Analysts predict economic boom for 2018! @foxandfriends and @Varneyco”

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Trump often writes optimistic comments about the economy. The economy under former President Obama was a frequent target of his criticism during the 2016 presidential campaign.

Trump’s Monday morning tweet comes after the House last week passed a tax-reform bill that includes slashes to the corporate rate.

The Senate is currently working on its own version of tax-reform legislation that, unlike the House bill, delays the cut to the corporate rate.

Bloomberg reported last week that economic researchers with Goldman Sachs Group Inc. predicted unemployment will be at 3.7 percent at the end of next year. The researchers also predicted that the Federal Reserve will up interest rates four times in 2018.

But according to a recent analysis conducted by the Research Seminar in Quantitative Economics at the University of Michigan, the United States economy isn’t due for a bump under Trump. The study found that growth will stay modest through 2019.