US is in a Self-Sustaining Recovery

US is in a Self-Sustaining Recovery

#US #VShape #recovery #economy #jobs #aid #relief #stimulus #PresidentTrump

Tuesday, White House economic adviser Larry Kudlow declared that the United States can survive until the end of the year without another round of aid/relief/stimulus as the nation is in a “self-sustaining recovery.

Besides the jobs, we are in a housing boom, autos boom, a consumer spending boom,” Mr. Kudlow said. “Inventories are rock bottom. They will be rebuilt. Small businesses have greater confidence. No, the economy is rebounding. It is V-Shape, at least 20% in Q-3 and probably Q-4.

Mr. Kudlow denied that there is a new focus on the economy as an election talking point, as the economy has “always been a Key focus.”

The economy for the 3 years before the pandemic was spectacular with a 3.5% unemployment rate,” he said. “The pandemic contraction was brutal and there is still a lot of hardship.”

President Trump has led a “rescue mission,” and even though talks have stalled for another round of coronavirus relief, “we have had a terrific recovery.”

The jobs report released last week showed, 8.4% unemployment, which nobody expected until early next year, Mr. Kudlow said.

Mr. Kudlow said he also agrees with President Trump’s comments that he will create 10-M jobs next year if he is re-elected, but disagrees with Fed Chairman Powell who says it will take a lot longer. 

The Fed chair has his own views,” said Mr. Kudlow. “He has done a great job getting interest rates to Zero and making loans to key areas and getting money into the economy. I have no quarrel with his actions. We are a little more optimistic.”

Making and Keeping America Great!

Have a healthy day, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.