Trump Advisor Plays Down Recession Fear08/18 09:45
President Donald Trump is warning of an economic crash if he loses
reelection, arguing that even voters who personally dislike him should base
their ballots on the nation's strong growth and low unemployment rate.
BERKELEY HEIGHTS, N.J. (AP) -- 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 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
Kudlow was interviewed on NBC's "Meet the Press" and "Fox News Sunday."