White House economic adviser Larry Kudlow says US-China negotiations ‘positive’, does not foresee recession at home
- After a tumultuous week in the financial markets, Kudlow sought to ease fears that ongoing trade-war is causing the US to head towards a severe downturn
Larry Kudlow pushed back Sunday on the notion that the US economy is headed toward a recession, and said recent phone calls between US and Chinese trade negotiators had produced more “positive news”.
Kudlow, the White House National Economic Council director, and Peter Navarro, President Donald Trump’s trade adviser, made multiple appearances on Sunday talk shows to discuss the economy and China trade prospects after a tumultuous week in financial markets.
“I don’t see a recession at all,” Kudlow said on Fox News Sunday. He added that there were no plans for additional fresh measures to boost the economy, and that the Trump administration would stay the course on its current agenda.
“Consumers are working. At higher wages. They are spending at a rapid pace. They’re actually saving also while they’re spending – that’s an ideal situation,” he said on NBC’s Meet the Press.
The positive assertions from the official were later echoed by the president, who tweeted that the US was “doing very well” with China.
Navarro, on ABC’s This Week, predicted “a strong economy through 2020 and beyond”.