Fannie Mae on Monday upgraded its forecast for 2020 U.S. economic growth to 1.9% from 1.7%, arguing that consumer spending and the housing market will buoy gross domestic product if a “phase one” trade deal between the United States and China is signed. The government-sponsored enterprise is betting not only that a deal will be passed, but that it will happen in time for the Dec. 15 tariffs on Chinese goods to be scrapped. “Even as global uncertainties mount, we continue to expect the domestic economy to produce solid, if not spectacular, growth,” said Doug Duncan, chief economist …read more
Source:: Yahoo Finance
