CFR's Mallaby Sees Trump's 3% GDP Target as 'Train Wreck'

The transcript discusses the Trump administration's ambitious 3% economic growth target, which is significantly higher than the Federal Reserve's estimate of sustainable growth. Concerns are raised about potential overheating of the economy and large budget deficits. The lack of economic expertise within the administration is highlighted, with Peter Navarro being the only known PhD economist. Internal dissent and confusion within the administration are noted, with disagreements among key figures like Mnuchin and Navarro. The challenges faced by cabinet officers and the lack of communication between top officials and civil service are also discussed.

What is the growth target set by the Trump administration, and how does it compare to the Federal Reserve's estimate?

• 4% target, double the Federal Reserve's estimate

• 1.8% target, lower than the Federal Reserve's estimate

• 3% target, significantly higher than the Federal Reserve's estimate

• 2% target, same as the Federal Reserve

What is a potential consequence of the Trump administration's 3% growth target?

• Overheating the economy

• Decreased fiscal stimulus

• Economic stability

• Balanced budget

Who is mentioned as the only PhD economist associated with the Trump administration?

• Steve Mnuchin

• Peter Navarro

• Larry Summers

• Janet Yellen

What is a major issue within the Trump administration as discussed in the third section?

• Unified decision-making

• Lack of foreign policy

• Internal conflicts and communication issues

• Excessive economic advisors

What is the result of the internal confusion within the Trump administration?

• Stable economic growth

• Increased immigration

• Paralysis and uncertainty

• Efficient policy implementation