While we might make minor adjustments when we get Thursday's data on durable goods, international trade, and inventories, right now our model forecasts real GDP expanded at a 3.6% annual rate in Q3. If so, the real economy grew at a 3.1% pace in the past year, a roughly 50% acceleration from the 2.1% growth rate that defined the Plow Horse Economy from mid-2009 through early 2017. It's clear that cutting tax rates and slashing red tape have boosted economic growth. And there is room to run. We don't see a recession coming for at least the next two years, and potentially much longer.