White House Refuses To Issue Economic Forecast

BRENDAN SMIALOWSKI/AFP/Getty Images
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The White House will not release an updated round of economic projections this summer, breaking from precedent as the U.S. faces its deepest downturn since the Great Depression, two administration officials familiar with the decision confirmed to The Hill on Thursday.

The Council of Economic Advisers (CEA), the internal White House economic team, will not release the typical midsummer review of its initial economic projections in July or August even as top Trump administration officials publicly predict a swift recovery from the crisis caused by COVID-19. The projections are typically produced jointly by the Office of Management and Budget, CEA and Treasury Department.

Administration officials say that the decision, first reported by The Washington Post, was made because the state of the economy during the coronavirus pandemic has resulted in fluctuating economic data that would produce a forecast that could mislead the public.

Read more at thehill.com

 

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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!

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