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Trump's top economic advisers try to calm recession fears

Posted On: Aug 18, 2019   |   Posted By: Politico

Trump's top economic advisers try to calm recession fears

Two of President Donald Trump's top economic advisers sought to tamp down concerns Sunday that the U.S. may be sliding into a recession. In appearances on the Sunday show circuit, White House trade adviser Peter Navarro and chief economic adviser Larry Kudlow rattled off a list of positive statistics about the economy under Trump. "Before I came to the White House I spent a better part of 20 years forecasting the business cycle and stock market trends, and 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," Navarro said on "This Week" on ABC. Independent economists have been less optimistic, noting in particular the inversion of the Treasury yield curve - a pattern that has occurred before every recession since the 1950s. The comments came after a roller coaster week on Wall Street, marked by the Dow Jones Industrial Average fluctuating by 300 points on four out of five days, including an 800-point drop early in the week. Trump's...

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