White House economic adviser Kevin Hassett said on Friday that he expects the pace of U.S. economic expansion to remain in the range of a 3 percent annual rate, as a result of high expectations for deregulation and tax cuts.
"Firms are optimistic both because of regulatory reform but also because they expect corporate tax reform and overall tax reform," Hassett, chair of the Council of Economic Advisers, told reporters in a conference call.
"There has been a recent uptick in growth. The last quarter was 3 percent and now the most recent quarter`s 3 percent," he said. "It seems likely that the fourth quarter is going to be in that range as well."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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