Despite concerns that economic growth may be faltering, the Trump administration is denying any risk of recession. According to Reuters, the insistence comes in the face of a volatile week on global bond markets.
“We’re doing tremendously well, our consumers are rich, I gave a tremendous tax cut, and they’re loaded up with money,” Trump said on Sunday.
Trump administration economic adviser Larry Kudlow said trade deputies from China and the US would speak within 10 days. Kudlow says the White House hopes to advance negotiations over ending a trade battle that has emerged as a risk to global economic growth. “There is no recession in sight,” Kudlow said. “Consumers are working. Their wages are rising. They are spending and they are saving.”
