Despite some warning signs, the “economy is strong” and, even more important, so is the opposition to Mr. Biden’s economy-killing Build Back Better spending plan, according to former Trump administration Director of the National Economic Council Larry Kudlow.
“I think the bill is dead; right now I can tell you with certainty: It will not pass between now and year’s end, and I regard that as a very good thing because, frankly, if the bill did go through it, would do great damage to our economy.“
“It will not get done this year,” Mr. Kudlow said emphasizing Not. “It’s going to push it into next year.
“The movement into next year means the chances of the bill going through are dropping. Falling. Falling. Falling. Save America, kill the bill.“
Mr. Kudlow added inflation remains a problem, particularly since it is no longer VirusCasedemic-related.
“Inflation is the horse that’s left the barn,” he continued.
“Powell has to take care of all of that. If he does not, then all hell is going to break loose next year.”
But, for now, there are promising economic conditions for growth, as “profits are booming,” Mr. Kudlow concluded.
“To be honest with you, the economy’s pretty strong,” he said.
“The economy’s quite strong. You’re going to have a big 4th quarter, probably up 9% or 10% and unfortunately, the inflation rate is also going to be up about 7% or 8%. It’s going to be wild. It’s like an inflationary boomlet that we’re having.“
Have a prosperous week, Keep the Faith!