White House stands by economic growth projections despite downgrade from Goldman Sachs

White House stands by economic growth projections despite downgrade from Goldman Sachs


The White House maintains that, despite a recently downgraded projection from Goldman Sachs, economic growth under President Joe Biden will remain “the strongest that we’ve seen in decades.”

A reporter asked National Economic Council Director Brian Deese about the projection during Wednesday’s press briefing, questioning whether the administration “overpromised” or if officials are “at all concerned that you’ve stacked set expectations too high at this point?”

“It’s a good question,” Deese conceded. “Even with a downgraded forecast, growth in 2021 would be the strongest that we’ve seen in decades.”

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Biden’s top economic adviser proceeded to tout “the record and historic strength of this recovery, not just historically, compared to other recoveries from crises and recessions in the United States, but record globally.”

“The United States is the only developed country where GDP has already recovered to its pre-pandemic level,” he continued. “That hasn’t happened

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