Hub for reliable, timely news about COVID-19 pandemic

Pres. Trump’s economic adviser plays down fears of looming recession

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

BERKELEY HEIGHTS, N.J. — President Donald Trump’s top economic adviser is trying to play down fears of a looming recession after last week’s sharp drop in the financial markets. Larry Kudlow says the economy will perform well in the second half of 2019.

Kudlow says consumers are seeing higher wages and are able to spend and save more. He calls such a scenario “an ideal situation.

A strong economy is key to Pres. Trump’s reelection prospects. Kudlow acknowledges a slowing energy sector, but says low interest rates will help housing, construction and auto sales.

Kudlow is also defending the president’s use of tariffs on goods coming from China, saying “we cannot let China pursue these unfair and unreciprocal trading practices.”

Kudlow was interviewed on NBC’s “Meet the Press” and “Fox News Sunday.”

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.