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President Donald Trump’s economic team says it won’t be satisfied until Americans workers earn more — and aggressive tax cuts are essential for those fatter paychecks.
But with unemployment at its lowest rate since before the financial crisis, the world’s biggest economy may already be nearing top speed. That means a big fiscal boost resulting from tax changes could stoke inflation to levels that would prompt the Federal Reserve to raise borrowing rates faster than anticipated. If that happens, Trump’s ambitious growth goals could be jeopardised.
The unemployment rate now sits at 4.4 per cent after US employers hired more workers than
