Before the recession of 2008/09, the US economy grew fairly consistently at about 3 per cent a year. This was, for example, the growth rate achieved up to the end of 2007 whether it is measured over the previous 20 or 30 years. In the four years since the economy hit its nadir at the end of 2009, it has grown at 2.6 per cent a year. It is widely assumed that the trend growth rate of the US economy, ie, the long-term potential growth rate of the US economy, is at least equal to this lower rate of 2.6 per cent a year. Read more