Friday on Fox News Channel’s “America’s Newsroom,” President Donald Trump’s National Economic Council director Larry Kudlow said today’s announcement that the U.S. gross domestic product (GDP) rose at a rate of 4.1 percent in the second quarter was “sustainable” going forward.
Kudlow said, “It was a great number. You know what? I don’t think this is the end of the numbers. I was watching some TV this morning and people are saying well, you know, they got one but it is not sustainable. It is sustainable. It is sustainable. We’ve lowered tax rates, unleashed energy, moving to fix the broken world trading system. You can see big numbers on capital spending, business investment, productivity will come from that, higher wages for ordinary working folks throughout the country. Tt’s a good story, a solid story. My hunch is it’s going to go on for quite awhile. It is not just one quarter.’
He added, “We’re making progress on fixing the broken world trading system. I mean, this is very important. The president has argued again and again no non-tariff barriers, no subsidies, free trade. We have to get rid of the unfair trading practices. China is the worst offender. We’re building a deal with the European Union that we got done two days ago. That’s terrific progress. a confidence builder. Listen, the guts of this report — I know, everybody wants to nitpick and do ankle biting, but basically the private economy has grown better than 4% and virtually no inflation.”
Follow Pam Key on Twitter @pamkeyNEN
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