President Donald Trump often says that the US economy is on a historic high, perhaps the greatest it has ever been. Recently, Trump has again made a similarly bold statement. "The third quarter is going to have the highest GDP in the history of mankind. And you see it is building," he told the Washington Times news outlet in an interview.
According to the US President, this indicator grows higher every month. However, he did not provide any economic figures and did not specify to what level GDP would rise.
What is more, the US Federal Reserve casts doubt on Trump's assessment. On June 10, 2020, the regulator published a forecast for the US economy for the current year. It expects a 6.5% reduction in the country's GDP. This month, the Fed presented revised data indicating that the US economy would grow by 5% in 2021 and 3.5% in 2022. Fed Chairman Jerome Powell noted that the fall in US GDP in the second quarter of this year might be the largest in the country's history.
