'We're going to have a strong economy through 2020,' Trump's top economic advisers say.
“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.— a pattern that has occurred before every recession since the 1950s.
The unemployment rate in July was unchanged from the previous month at 3.7 percent, while average hourly wages were up 3.2 percent over the previous year, up slightly from June but a slowdown from early in the year when wages hit 3.4 percent. “Meet the Press“ host Chuck Todd noted that Kudlow wrote in December 2007 that there was “no recession coming“ just months before a massive downturn.Appearing on “This Week,“ Sen. Kirsten Gillibrand disagreed with Navarro's economic outlook, saying she is "concerned" about the possibility of a recession and so are the people she is meeting on the campaign trail.
“I'm concerned because I think 'NAFTA 2.0' is a disaster," Gillibrand said, referring to Trump's North American free trade agreement. “I think it was a giveaway to drug companies in Mexico. It's going to harm our jobs. President Trump said, 'No bad trade deals.' Not only has he entered into them but he's started a trade war with China, and it's really harming producers.
Appearing on CNN's “State of the Union,“ Navarro said the new U.S.-Mexico-Canada Agreement that would replace NAFTA should have passage by early October, “if Congress rises above partisan politics.“ And as for the China tariffs, Navarro insisted, “They're not hurting anybody here. They're hurting China.“
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