White House Breaks Precedent by Skipping Summer Economic Forecast

The White House has decided to break precedent and skip the summer economic forecast due to the coronavirus.

According to The Hill:

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.

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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.

A White House official noted that the CEA is under no legal obligation to release an updated version of its initial February forecast, which is released with the president’s annual budget proposal, and said the precedent of doing so is “dismissible” given the uncertainty facing the economy.

The official stated that it would be foolish especially when the forecast could mislead the public a consequence they did not want to create.

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Glenn Lego
Glenn Lego
3 months ago

The state of the economy is dependent on the action or inaction of the individual governors in reopening their states.

Rhina
3 months ago

True each state Governors are to blame for their state not open. California only help illegal aliens, they do not have to follow pandemic rules nor do they have to speak English but for some odd reason they all were masks? Yet American citizens are the racist? When will the military come and remove these terrorist? Trump 2020

Carol
3 months ago

RIGHT – when will the military remove these TERRORISTS – ANTIFA ETC WHO ARE INTENT ON DESTROYING AMERICA AS WE KNOW IT !!!!!!!!!! THIS IS WORLD 3 !!!!!!!!!

JohnWhite
JohnWhite
3 months ago

Follow the money. Bet it leads to Soros and Obama. Who else would benefit from a crashed economy.