“US is the Hottest Economy in World”
- US economic strength is built upon very real, solid fundamentals.
National Economic Council Director Larry Kudlow said the American economy is beating the rest of its global rivals despite the stock market’s volatility.
“We are the hottest economy in the world right now. We’re crushing it,” he said in a TV interview Thursday. “Europe is slowing down. Asia is slowing down. We are moving rapidly.”
“Right now, the US is carrying the ball. I don’t see an end to it,” said Mr. Kudlow.
“You can have the short-term oscillations in certain business indicators, but look at the big picture. The big picture is we are growing faster than almost anybody dreamed possible, I think it’s the biggest story of 2018, I really do. We are in a economic boom most folks thought was impossible,” he said.
The economic strength is built upon very real, solid fundamentals.
“With all due respect, I do not think this is anything resembling a sugar high. President Trump has changed the incentives in the economy. The war on business is over,” he said Kudlow.
Mr. Kudlow is not concerned with the market selloff, which he called “a normal correction in a Bull market” because most of the recent economic reports have been “spectacular.”
“Paychecks are getting fatter blue-collar workers are going back to work I’m saying this because the economy is very, very sound and although I’m not here to predict the stock market,” said Mr. Kudlow.
“The reality is, if you have a strong economy that will provide confidence for stocks, but corrections come and go,” he said.
Investors worried that equity markets would have trouble recovering as rising interest rates coincide with uncertainty about how much earnings growth may be hurt by a US trade dispute with China.