Posted on 09/14/2019 8:16:01 AM PDT by E. Pluribus Unum
BALTIMORE, Maryland—White House chief economic adviser Larry Kudlow said Sept. 13 that the U.S. economy was now on the upswing despite a looming global recession and the Federal Reserve’s tight monetary policy.
U.S. retail sales rose 0.4 percent on a monthly basis in August, beating market expectations, according to a report released by the Commerce Department on Sept. 13. Solid retail data was driven by more-than-expected auto sales and online shopping.
“The core retail sales are growing at about 7.5 percent annualized for the last three months, which gives you a hint of a big Q3 number. That’s a terrific number,” Kudlow told reporters at the 2019 House Republican Conference Member Retreat in Baltimore.
Kudlow said he was still an optimist and did not predict any recession despite market fears.
“I think with a global slump and a lot of rate hikes in the Fed, we’ve come through this pretty well, and I think we’re getting better. We’re actually improving. We’re now on the upswing. That’s just my personal view.”
When asked whether the strong retail sales data blunted the case for the Fed rate cuts, Kudlow said, “Not particularly.”
(Excerpt) Read more at theepochtimes.com ...
All dhims, globalists, etc are going to pull out the kitchen sink to crash the economy by next year.
Excellent. I hope it continues.
Quick, more China tariffs before the next Fed meeting.
Under current conditions, per the Fed’s Mandate, higher import tariffs require lowering the rate.
Looks like a good economy even under “austere” conditions is the “Trump Norm”...
The most heavily socialist states are almost certainly not benefiting from Trump’s policies - due to their own over-taxation. It is easy to see why people there won’t believe in the improving economy.
The NYC metro area is still in bad shape, and will continue to deteriorate as long as we 1) chase talent away with high tax burdens, and 2) traffick more and more penniless Third Worlders here to keep the lights on.
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