"No, I do not see a recession.And let me add a single theme … One theme.We are doing very well, in my opinion.We're not afraid of l & # 39; "Optimism," Larry Kudlow, White House's chief economic adviser, told NBC's Chuck Todd, "Meet The Press." In a separate appearance on "Fox News Sunday," Kudlow told animator Dana Perino that he did not see a recession "at all".
Similarly, White House trade advisor Peter Navarro told CNN's Jake Tapper on "the state of the Union" that the yield curve – a key economic indicator linked to the government's obligations US Treasury – often preceded recessions – – was not "technically" reversed last week.
The comments from both officials come amid growing fears of a global economic slowdown that could potentially threaten Trump's re-election bid. The economy has been an important topic of discussion for the president, who often invokes his growth to boost the popularity of his administration. Although the US economy remains stable for the moment, five of the world's largest economies are in danger of recession, and a week-long whiplash on Wall Street has raised fears that the US economy will also be dragged down the road. drop.
Since Trump took office, the stock market has peaked and unemployment has remained at historically low levels. However, a number of factors could trigger a slowdown in the United States, including Trump's trade policy, the weakening of the global economy, the mitigation of the effects of tax cuts 2017 or even a risk of deflation.
Trump on Sunday wrote on
Twitter that the US economy is "the best in the world", also claiming that it is "ready for strong growth after the conclusion of trade agreements".
Earlier Sunday, the two officials tried to draw attention to the US economy, and Navarro told Tapper: "What we are seeing now is that foreign capital arrive at the best game in the world, namely the Trump economy.
Mr. Kudlow also sought to refocus attention on the economic gains made by Trump, stating on NBC: "We had sensational retail sales, consumer numbers towards the end of last week. impressive. "
Despite the concern over stock market volatility, "most Wall Street economists have marked their forecasts for the third and fourth quarters, which echoes our point of view."
Jason Hoffman, Kate Sullivan and Paul R. La Monica from CNN contributed to this report.
