Hassett: The US is poised for a golden year in economic history, barring any "black swan" event.
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TL;DR
Hassett predicts a 'golden year' for the US economy with potential growth above 3%, barring unexpected events, and expects the Fed to cut rates next week.
Odaily Odaily reports that National Economic Council Director Hassett stated that unless some kind of "black swan" disruption occurs, "we are going to have a golden year in economic history." He added that he would be "disappointed" if growth in the first and second quarters of next year is only 3%. "The growth rate could easily be another percentage point higher." Furthermore, Hassett reiterated his expectation that Federal Reserve policymakers will lower interest rates at their meeting next week. "Now is a good time for the Fed to cautiously cut rates again." (Jinshi)