Economy

THIS IS WHY WE LOVE TRUMP: Trump talks about the Greatest U.S. economy under his presidency

In a series of tweets, Trump said

“trillions of dollars have been created for the U.S. and the stock market is up over 50%.”

— Donald J. Trump (@realDonaldTrump) September 2, 2019

He then quoted political commentator Steve Hilton, who said unemployment hit a 50 year low this year, and the U.S. has seen the lowest ever African American and Hispanic unemployment.

Trump Economics. With President Trump, Tariffs are bringing companies back to the USA like he said they would! @SteveHiltonx

THIS IS WHY WE LOVE TRUMP

National Economic Council Director Larry Kudlow Thursday praised Rep. Alexandria Ocasio-Cortez, D-NY, for her questions to Federal Reserve Chairman Jerome Powell, saying he would give her “high marks” and saying he’d like to meet with her to discuss economics. 

“I’m a supply-side conservative and so forth,” Kudlow told Fox News’ “Fox and Friends.”

“I want to note in the hearings yesterday with Fed Chairman Jay Powell it was Ms. AOC who asked him about the Phillips Curve.”

The economic theory represents the relationship between inflation and the unemployment rate, finding that when unemployment is high, wages increase slowly, but when it’s low, wages go up rapidly. 

During a hearing on Wednesday, Powell largely agreed with Ocasio-Cortez when she said economists are concerned that the curve is “no longer describing what is happening in today’s economy,” and Kudlow said he agrees. 

“By the way, that is my position,” said Kudlow. “That has been the president’s position. Strong growth doesn’t cause higher inflation and interest rates. It looks like the Fed is going to have to cut their rates.”

And, he added, “nobody in life is all good or all bad…I’ve got to give hats off to Ms. AOC. She kind of nailed that. I’m hoping she and I can sit down to talk supply-side economics very soon.”

He further noted that there was a large jobs number that came out last Friday, and the nation is in a “powerful prosperity cycle because of pro-growth policies on taxes, regulation, trade reform, energy and so forth. There is no stopping it.”

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