Trump economic adviser plays down fears of looming recession

18 Août, 2019, 18:52 | Auteur: Anatole Charbonneau

Mr. Trump tweeted from his golf resort in Bedminster, New Jersey.

Yet despite gyrations in the US stock market and economic slowdowns in other countries, officials in the White House, at the Treasury Department and throughout the administration are planning no new steps to attempt to stave off a recession. Century, was only elected a President again, in the last two calendar years of his first term in office, a recession occurred: William McKinley in the year 1900.

"We do have a lot of uncertainty about where this trade deal is going with China - I believe that Donald Trump is fighting the good fight", Moore told "The Cats Roundtable" on 970 AM-N.Y.

Despite a quarter-point cut last month, he's calling for the Fed to further cut interest rates to stimulate the economy.

White House trade adviser Peter Navarro declared the USA economy will be strong through 2020, and the Federal Reserve will be lowering interest rates again, "significantly", going into the holiday season, in an interview with "This Week" on Sunday.

"China is not our problem, though Hong Kong is not helping", Mr. Trump tweeted, referring to civil unrest in the special administrative region. Investors are increasingly concerned about Trump's undermining of the Fed's independence. "Now too slow to cut". "We should easily be reaping big Rewards & Gains, but the Fed is holding us back. You have to have a significant spread between short and long rates", Navarro said. "They are causing this because when Jay Powell got in as chairman, he proceeded to raise interest rates by 100 basis points, too far too fast". Rather, Trump's economic advisers have been delivering the president upbeat assessments in which they argue that the domestic economy is stronger than many forecasters are making it out to be...

The Fed reverse that hike with a rate cut at the end of July. "It's called The Wall Street Journal for a reason".

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The culprit for the miserable day in the stock market, the U.S. President made quickly. "The Fed has to get more dollar liquidity into the economy because the economy's growing".

Several other major economies, including Japan, Germany, Italy and the United Kingdom, appear to be heading toward recessions, and China is growing at its slowest pace in three decades.

"The yield curve inverting is a worrisome sign, but don't forget it isn't the best timing signal, as a recession doesn't start for an average of 21 months after the initial inversion", Ryan Detrick, Senior Market Strategist for LPL Financial, said in a note.

The stampede meant that the US Treasury 10-year bond yield curve also inverted for the first time since 2007. "I think it's really important that we get a deal with China that's in America's interest".

Shortly before US markets closed Wednesday, Vice President Mike Pence said in a Twitter post that the economy "is growing & jobs are soaring".

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