President Trump Gets the Growth Rate He Wanted

The Commerce Department reports that the gross domestic product, the country's total output of goods and services, posted its best showing since a 4.9% gain in the third quarter of 2014. The Wall Street Journal notes the Q2 2017 GDP was 2.8%. Trump predicts growth will accelerate under his economic policies. But private forecasters cautioned that the April-June pace is unsustainable because it stems from temporary factors. The rest of the year is likely to see good, but slower growth of around 3%. Still, the Journal suspects this strong report will keep the Fed on track to raise its benchmark rate to 2% or 2.25% in September.