Economists cannot forecast, and the current economic status in America is showing us proof of that today. No scientist ever imagined that an advanced economy such as the United States could grow by almost 4% in a year while also bringing unemployment figures below 4%. It was theoretically impossible, but the current situation proves otherwise.
Inaccurate predictions could be one explanation, but this only offers hypothetical reasons for U.S. economic growth. Before all else, it should be noted that Donald Trump has had little or no impact. America’s current growth began under Barack Obama’s administration, and Trump’s government has not significantly changed tack. Generally speaking, there is also no clear-cut link between the president and the economy. The federal government has few powers in this area, and there is not even a minister for the economy. The only influential authority in the matter is the Federal Reserve and its ability to fix interest rates. But while this may not[...]