Trump’s economic advisers go on charm offensive amid recession fears
The trade war with China, stock market volatility and ominous signs from the U.S. bond market have experts worried that the U.S. is ripe for a recession.
A Bloomberg survey of economists recently placed the likelihood of recession within the next 12 months at 35%.
But the Trump administration deployed its top economic advisers on the Sunday talk shows with a very different message.
“What I can tell you with certainty is that we’re going to have a strong economy through 2020 and beyond with a bull market," White House trade adviser Peter Navarro said on ABC’s “This Week.”
He also rejected concerns over the bond market, in which long-term interest rates reportedly fell below those of short-term rates on Wednesday — a phenomenon known as an “inverted yield curve” that is viewed as a harbinger of recession.
Trump weighed in Sunday afternoon, asserting, “Our economy is the best in the world, by far.”
“Lowest unemployment ever within almost all categories,” he tweeted. “Poised for big growth after trade deals are completed. Import prices down, China eating Tariffs. Helping targeted Farmers from big Tariff money coming in. Great future for USA!”