US economy will boom in 2018: Goldman

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US economy has made progress since Trump's inauguration: Sen. Hoeven

Sen. John Hoeven (R-N.D.) on the growth of the economy since President Trump's inauguration and why he believes the GOP tax bill will help the U.S.

If you think 2017 was a good year for the economy, 2018 will get even better, according to the latest Goldman Sachs (GS) forecast.

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The bank’s economists estimate U.S. GDP growth will come in at 2.5% in 2018, up from the 2.2% forecast for 2017. In 2016, U.S. GDP grew at 1.6%.

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The U.S. economy has gained momentum over the past year thanks to pro-growth policies of lawmakers in Washington. The major U.S. stock indexes are all trading around record levels. As previously reported by FOX Business, the major indexes had have each gained more than 20% since President Donald Trump won the election last November.

Tax reform is considered one of the crucial elements for amplified economic growth. Last week, Rep. Kevin Brady (R-Texas) told FOX Business’ Stuart Varney that if the House tax reform bill were passed today, “Most economists believe it [the U.S. economy] will grow by about a half percent at a minimum.”