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One of President Donald Trump’s top economic advisers has admitted that his economic forecasts under the Trump administration were wrong. President Joe Biden.
“No, you’re wrong,” Fox Business host says. larry kudrow He said this on Thursday’s broadcast. “I was wrong about the economic slowdown and recession, and so was the entire fraternity that was making predictions.”
However, Fox News host Sandra Smith tried to get him to recant from the story.
“I don’t think you were wrong,” she said.
But Kudlow, who served as director of the National Economic Council for nearly three years in the Trump administration, stuck with that policy.
“The Fed, everyone was wrong,” he said, noting that widespread expectations of a recession in 2022 and 2023 did not materialize.
Kudlow noted that the unemployment rate will be released on Friday after a month of massive layoffs.
“I think the Fed is looking more closely at inflation than it is at inflation,” Smith said in a clip posted to Mediaite, adding that the Fed is looking at the potential for job losses. He pointed out that the government wants to curb certain inflation.
“If the labor market takes a big hit, the U.S. economy could deteriorate significantly,” he predicted.
Mr. Kudlow made similar confessions about the economy’s strength last month when gross domestic product (GDP) grew faster than expected.
“He deserves what he deserves,” Kudlow said of Biden. “If I were him, I’d throw that hash too. No problem.”
However, he added that most of the growth was due to government spending.
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