Treasury Secretary Steve Mnuchin, left, and Director of the Office of Management and Budget Mick Mulvaney listen as President Donald Trump delivers remarks about the economy on the South Lawn of the White House, Friday, July 27, 2018, in Washington. (AP Photo/Evan Vucci)

Trump officials predict sustained growth in the economy

July 29, 2018 - 11:26 pm

WASHINGTON (AP) — The president's top economic advisers are forecasting an economy that will continue to grow, an assessment few outside economists agree with.

Treasury Secretary Steven Mnuchin predicts the economy will enjoy at least four or five years of sustained 3 percent growth. White House economic adviser Larry Kudlow says President Donald Trump deserves a victory lap after an energetic 4.1 percent annual growth rate last quarter.

While Trump has criticized the Federal Reserve for raising interest rates, Mnuchin told "Fox News Sunday" that the administration absolutely supports the independence of the Fed and that Trump believes interest rates are the Fed's decision even though he is concerned about them.

Kudlow downplayed concerns about tariffs, telling CBS' "Face the Nation" the basic drivers of economic performance will continue to boost the economy.

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