Warning lights flash on Trump boom – The Times

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“You’re gonna see some really super growth,” President Trump said last week in the latest of his bullish forecasts for the US economy. Growth in the third quarter “could be in the fives”, he predicted, suggesting it could be a galloping 5 per cent or more — a further acceleration for an economy that appears to be firing on all cylinders.

The second-quarter growth reading was music to the president’s ears, coming in at 4.1 per cent annualised, the best in nearly four years. Meanwhile, big companies have enjoyed a bumper earnings season. Hopes are high that America’s second-longest economic expansion on record will turn into its lengthiest. The spurt began 109 months ago, in June 2009, when the US began to pull away from…

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