White House Press Release - President Biden's COVID Plan is Working, as U.S. Is Only Major Country Where GDP Expectations Are Higher Than They Were in January 2020

President Biden's economic plan is working. The OECD and Wall Street forecasters expect that plan to lead to accelerated GDP growth this year.

Yesterday, the OECD released its Economic Outlook, projecting 6.9% growth in the United States this year. That would be the highest level in nearly four decades. The OECD release reflects significant strengthening of economic projections since President Biden took office and put in place a robust strategy to combat COVID-19 and get our economy back on track. In December 2020, the OECD projected 3.2% growth for the year; in March 2021, they projected 6.5% economic growth for the year.

As yesterday's Wall Street Journal put it:

"The U.S. is the only major country in which expectations for 2025 GDP among Wall Street forecasters are currently higher than they were in January 2020. In other developed countries that have embraced fiscal activism, such as Canada, Japan and Germany, the economy is expected to be between 0.8% and 0.5% smaller than in pre-pandemic projections. The figure is closer to 4% for the U.K. and France."

President Biden's economic plan is working. You can read more here and here.