White House's Top Economic Aide Believes US Economy Will Avoid Recession In Near Future

White House's Top Economic Aide Believes US Economy Will Avoid Recession in Near Future

WASHINGTON (UrduPoint News / Sputnik - 18th August, 2019) White House chief economic adviser, Larry Kudlow, does not expect a recession in the US economy in the near future.

"I surely do not see a recession ... Consumers are working at higher wages. They are spending at a rapid pace.

They are actually saving also while they are spending. That's ideal situation. So I think actually, in the second half the economy is going to be very good in 2019. No, I do not see a recession," Kudlow said in an interview with the NBC news.

Kudlow's remarks were made amid market instability and concerns caused by US trade war with China.