In the wake of improving economic data, including today’s strong personal income and spending report, Deutsche Bank’s Chief U.S. Economist Joe LaVorgna tweeted that the economy may be growing at a 4 per cent rate.
Many economists like PIMCO’s Mohamed El-Erian and ECRI’s Lakshman Achuthan have argued that the post-financial crisis U.S. economy would grow at below trend, which is around 3 per cent, for years.
Here’s LaVorgna’s tweet:
— Joseph A. LaVorgna (@Lavorgnanomics) March 29, 2013
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