'No, I don't see a recession,' President Trump's top economic adviser says following the financial markets' sharp drop last week.
in the financial markets and predicting the economy will perform well in the second half of 2019.
Larry Kudlow said in Sunday television interviews that consumers are seeing higher wages and are able to spend and save more. “No, I don’t see a recession,” Kudlow said. “We’re doing pretty darn well in my judgment. Let’s not be afraid of optimism.”prospects. Consumer confidence has dropped 6.4% since July. The president has spent most of the week at his golf club in New Jersey with much of his tweeting focused on talking up the economy.
Kudlow acknowledged a slowing energy sector, but said low interest rates will help housing, construction and auto sales.on goods coming from China. Before he joined the administration, Kudlow was known for opposing tariffs and promoting free trade during his career as an economic analyst. Kudlow said Trump has taught him and others that the “China story has to be changed and reformed.”Democratic presidential candidate Beto O’Rourke said the U.S.
“This current trade war that the president has entered our country into is not working,” O’Rourke said. “It is hammering the hell out of farmers across this country.”AP NEWS
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