White House Foresees No Recession

Bullish Trump administration economic and trade advisors say there is no chance of a U.S. recession anytime soon.

“There’s no recession on the horizon,” declares Larry Kudlow, director of the White House National Economic Council. Likewise, trade advisor Peter Navarro forecasts “a “strong economy through 2020 and beyond.”

Both men made multiple appearances on television news talk shows yesterday, offering encouraging words about the American economy and trade talks between the U.S. and China.

Kudlow says deputy-level conference calls will continue with Chinese trade envoys over the next 10 days. If productive, those discussions will lead to the resumption of high-level talks in Washington, D.C., at about the end of the month, he adds.

Trump told reporters yesterday that the U.S. is “doing very well” in talks with China. But he also reiterates the view that China needs a trade deal more than the U.S. does. Observers say the two sides remain far apart on fundamental issues.

Kudlow tells Fox that the Trump administration plans no new actions to accelerate the U.S. economy. But over the weekend President Donald Trump resumed pressure on the Federal Reserve to lower its prime interest rate. “The Fed,” he tweeted, “is holding us back.”