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(CNSNews.com) - Countering recent buzz about an impending recession, President Trump's chief economic adviser Larry Kudlow told NBC's "Meet the Press" he doesn't see it happening:
Well, I tell you what, I sure don't see a recession. We had some blockbuster retail sales, consumer numbers, towards the back end of last week, really blockbuster numbers.
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And in fact, despite a lot of worries with the volatile stock market, most economists on Wall Street towards the end of the week had been marking up their forecasts for the third and fourth quarter. That echoes our view.
You know, what we've got here, consumers are working at higher wages. They are spending at a rapid pace. They're actually saving also while they're spending, that's an ideal situation. So I think actually the second half of the economy is going to be very good in 2019.
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No, I don't see a recession. And let me add just one theme, Chuck, just one theme, we're doing pretty darn well, in my judgment. Let's not be afraid of optimism. Let's not be afraid of optimism. It's a funny sign of our times. And I think there's a very optimistic economy going on out there.
Kudlow noted that the U.S. energy sector -- oil, gas and fracking -- has slowed down "a wee bit."
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"On the other hand, money is flowing into the United States," he said. "We're the hottest, really the only game in town. And I think that's a very positive development. And we're seeing some pickup in manufacturing jobs and construction jobs as well.
"And incidentally, Chuck, one last point, low interest rates, low interest rates, which is across the spectrum, is very good thing for housing, for construction, for automobile sales. No inflation, virtually no inflation, Chuck Todd.
"So I actually think it's a pretty good story. And again, let...
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