• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

3

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

3

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
LeadershipPolitics

Trump Administration Says GDP Won’t Rise Above 3% This Year

Alana Abramson
By
Alana Abramson
Alana Abramson
Down Arrow Button Icon
Alana Abramson
By
Alana Abramson
Alana Abramson
Down Arrow Button Icon
May 9, 2017, 5:51 PM ET
Add Fortune on Google for similar content.

The Trump administration will not be able to achieve the 3% GDP growth it hoped for in 2017, White House Commerce Secretary Wilbur Ross said Tuesday, citing economic policies that have yet to be implemented as the reason for the delay.

Ross had expressed confidence last month that the administration would achieve this goal, noting that the policies the White House wanted to implement would be conducive to this growth.

“With all the initiatives that we’re doing — the regulatory reform, the trade reform, the tax reform hopefully — and unleashing energy, there’s no reason we shouldn’t be able at least to have that, if not beat it,” he told reporters April 25.

He now says that growth won’t happen, since the majority of those policies haven’t been implemented.

“The Congress has been slow-walking everything,” Ross told Reuters. “We don’t even have half the people in place.”

During his campaign, President Trump promised to increase GDP growth to 4%, a pledge reflected on the White House website.

But the last time GDP grew 4% was nearly two decades ago, when Bill Clinton was President. GDP grew by 2.1% in the fourth quarter of 2016, and shrunk to .7% in the first quarter of 2017, according to the Bureau of Economic Analysis.

Second-quarter numbers for 2017 will be released on May 26.

Ross also reflected on the administration’s trade policy in his interview with Reuters, explaining that the White House is not trying to restrict trade overall, but only where there is a precedent of other countries violating agreements.

“What we are restricting is trade that violates trade agreements or violates WTO rules. Not much point of having trade agreements if you are not going to enforce them,” Ross said.

About the Author
Alana Abramson
By Alana Abramson
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Leadership

bots
AIAI agents
Turns out Dead Internet Theory was right: AI agents are eating the Web, growing by nearly 8,000% and rewiring the Internet’s business model
By Mia OsmonbekovJuly 23, 2026
10 hours ago
Alphabet’s SpaceX stake fuels a $98 billion gain, beating estimates
Big TechMarkets
Alphabet’s SpaceX stake fuels a $98 billion gain, beating estimates
By Barbara Ortutay and The Associated PressJuly 23, 2026
13 hours ago
Benjamin Franklin's experiment with the kite.
AIScience
The Trump administration is revamping the era of the ‘gentleman scientist.’ It’ll cost $200 billion
By Eva RoytburgJuly 23, 2026
14 hours ago
Amazon founder Jeff Bezos
SuccessBillionaires
Amazon’s Jeff Bezos could be the latest American billionaire to buy into European soccer clubs—he’s eyeing up a stake in Liverpool FC
By Emma BurleighJuly 23, 2026
14 hours ago
Sanae Takaichi
Successwork-life balance
Despite Tokyo’s push for a 4-day week for better work-life balance, Japan’s prime minister boasts sleeping just ‘zero to three’ hours a night
By Preston ForeJuly 23, 2026
15 hours ago
All hail London—whatever the U.K.’s new Prime Minister says 
EuropeLetter from London
All hail London—whatever the U.K.’s new Prime Minister says 
By Kamal AhmedJuly 23, 2026
16 hours ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
Personal Finance
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
By Joshua HongJuly 23, 2026
23 hours ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
1 day ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
4 days ago
Current price of oil as of July 23, 2026
Personal Finance
Current price of oil as of July 23, 2026
By Joseph HostetlerJuly 23, 2026
20 hours ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.