JP Morgan Chase CEO Jamie Dimon publicly praised President Trump’s overhaul of the nation’s tax-code Monday, saying the GOP-sponsored cuts were behind the booming United States recovery in the second quarter of 2018.
“J.P. Morgan Chase CEO Jamie Dimon said President Donald Trump’s tax cuts, along with some of his other efforts, have helped out the U.S. economy,” writes CNBC. “If you do another $200 billion of tariffs and this national security thing about cars, I think that you’re getting pretty close to reversing some of the benefits you’ve seen in the economy.”
The CEO’s comments come just days after a new financial report showed the US Gross Domestic Product growing by a staggering 4.1%; further signaling a robust recovery after years of stagnation.
The new data throws even more cold-water on the Democrats’ over-hyped “blue wave” this fall, with Nancy Pelosi vowing to “repeal” the “GOP tax scam” should liberal legislators retake control of Congress.
Read the full story at CNBC.
AMERICA UNLEASHED: GDP GROWTH Tops 4.1% in SECOND QUARTER
The US economy continued to roar to life in the second quarter of 2018 with GDP growth topping a whopping 4.1%; signaling a robust recovery under President Trump and the GOP-controlled Congress.
According to CNBC, Gross Domestic Product posted its largest gains in over four years on the back of strong consumer confidence and record-breaking business growth and optimism following the Republican-sponsored tax cuts.
“That’s the fastest rate of the growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent,” writes CNBC.
“We’re on track to hit the highest annual growth rate in over 13 years,” said the President. “And I will say this right now and I will say it strongly, as the deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers.”
Read the full report here.
GREAT AGAIN: GDP Estimates SOAR TO 4.8% in SECOND QUARTER
The US economy continues to roar to life under President Trump and the GOP-controlled Congress, with the Atlanta Federal Reserve raising the economic estimates for the second quarter of 2018 up to a staggering 4.8%.
According to Reuters, the US Gross Domestic Product is growing at an annualized rate of nearly 5%, citing strong domestic sales numbers and record-setting exports after months of continued growth.
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.8 percent on June 14, up from 4.6 percent on June 8,” says a new report from the Federal Reserve Bank of Atlanta.
The staggering statistics come on the heels of record breaking tax revenue and an inverted job index for the first time in US history, where there are more jobs available than workers to fill them.