Kenneth Rogoff: Four percent growth is not impossible

Kenneth Rogoff was the chief economist of the International Monetary Fund from 2001 to 2003.

[I]f the US economy really does have massive quantities of underutilized and unemployed resources, the effect of Trump’s policies on growth could be considerable. In Keynesian jargon, there is still a large multiplier on fiscal policy. It is easy to forget the biggest missing piece of the global recovery is business investment, and if it starts kicking in finally, both output and productivity could begin to rise very sharply.

Source: The Trump Boom? by Kenneth Rogoff – Project Syndicate