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White House offers reassurances amid recession fears as 2020 candidates sound alarm | TheHill

posted onAugust 19, 2019
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Article snippet: MORE’s economic and trade advisers sought to quell fears of a looming recession Sunday morning after a week of turmoil in the markets that has historically served a predecessor to economic downturns. "I don't see a recession at all," White House economic adviser Larry Kudlow insisted on "Fox News Sunday," telling guest anchor Dana Parino, “The Trump pro-growth program, which I believe has been succeeding, we’re going to stay with that.” Last week, short-term U.S. Treasury bond yields fell below yields for longer term bonds, a development known as yield-curve inversion that has historically predicted recessions. Wednesday also saw the U.S. stock market suffer its worst losses of the year with the Dow Industrial Average down 800 points. Taken together the economic signs have investors jittery. Kudlow was similarly dismissive of the notion of a coming recession in an interview on NBC’s “Meet the Press,” which led host MORE to note that he struck a similar note before the Great Recession in 2007, writing at that time, “There’s no recession coming. ... The pessimistas were wrong.” “I plead guilty to that,” Kudlow told Todd. Chief White House trade advisor Peter Navarro echoed the optimism, saying on ABC’s “This Week,” “Before I came to the White House, I spent the better part of 20 years forecasting 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.” Navarro made a similar... Link to the full article to read more

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