Hopes of ‘Trump Bump’ for U.S. Economy Shrink as Growth Forecasts Fade<br />With higher borrowing costs practically inevitable in the future, Mr. Anderson said, “the real tragedy is<br />that the price tag for any future infrastructure spending will be a lot higher.”<br />Ms. Pomboy pointed out that changing consumer habits in the wake of the financial crisis<br />and the recession — notably an increased wariness about spending and taking on debt — also explain what is looking more and more like a long-term downshift.<br />While hardly terrible, it is not the burst of growth — a “Trump bump” —<br />that many expected to result from an upturn in consumer and business sentiment after President Trump’s election.<br />“I don’t see any reason we will veer from a 2 percent growth rate,” said Scott Anderson, chief economist at Bank of the West in San Francisco.<br />Experts say that without a meaningful change in government policies — greater infrastructure investment, an overhaul of the corporate<br />tax code, a new commitment to improve the skills of American workers — there is no reason to expect the domestic outlook to change.
