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White House says 'no recession in sight' despite market turmoil

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White House officials pushed back on Sunday against concerns that economic growth may be faltering, saying they saw little risk of recession ...

WASHINGTON: White House officials pushed back on Sunday against concerns that economic growth may be faltering, saying they saw little risk of recession despite a volatile week on global bond markets, and insisting their trade war with China was doing no damage to the United States.

However, trade adviser Peter Navarro on Sunday likewise dismissed last week's warning signs, saying"good" economic dynamics were encouraging investors to move money to the United States. Despite talking up the economy, the president and his advisers have repeatedly accused the U.S. Federal Reserve of undermining the administration's economic policies. On Sunday, Kudlow again pointed the finger at the central bank, describing rate hikes through 2017 and 2018 as"very severe monetary restraint."

 

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