Economists forecast economic growth in the United States to rise by 2.4 percent in 2017 and by 2.5 percent in 2018, the Wall Street Journal reported.
Before the election, economists projected that growth would increase by 2.2 percent in 2017 and by 2 percent in 2018.
"Since the election of President Donald Trump, the stock market has soared, bond yields have risen, and economists have raised their forecasts for economic growth and inflation," the article states.
Economists are expressing optimism due to Trump's policy stances, which include reducing regulation, reforming the tax code, and increasing spending on infrastructure.
"We have finally hit a sweet spot where economic gains are self sustaining," said Diane Swonk of DS Economics.
While economists are projecting increasing growth over the next two years, they are projecting the economy to grow by 2.1 percent for the years 2019 and after.
"In the long run, economic growth ultimately boils down to two basic factors: growth in the working population, and the productivity of those workers," the Journal notes. In addition, according to economists, meaningful tax reform, simplifying regulations, and building infrastructure would boost long-run growth.
