Trump Bump: GDP Could Hit 4%

President Donald Trump give remarks at the Unleashing American Energy event at Energy Department headquarters.
June 29, 2017 Photo Simon Edelman, Energy Department

I’ve always liked Larry Kudlow, both during his time on CNBC, and now as Trump’s top economic adviser. His enthusiasm is contagious. I like his optimism for the economy here. Renae Reints reports on the interview for Fortune:

In an interview with CNBC Wednesday, Kudlow seemed optimistic for the U.S. economy despite the current trade war.

“We are getting 3 [percent] and it may be 4 for a quarter or two,” Kudlow told CNBC. “That’s all for the good. Literally millions more people are working.”
GDP growth for the first quarter of 2018 was 2%.

The White House has aimed to boost the economy through tax cuts, spending increases, and deregulation since Trump took office. Most recently, Trump has turned to increasing tariffs on products from China, the European Union, and Canada, sparking retaliation and launching a trade war.

Kudlow, a longtime advocate for a free market, said that while he generally opposes tariffs, something needed to be done about international trade. The Chinese government “knows they’re wrong,” Kudlow told the network. “Something has to be done here.”

“This guy, President Trump, has the biggest backbone,” he said. “He will not let go of this point, nor should he in my opinion.”

Kudlow also said more tax legislation could be coming. Following Trump’s tax cuts last year, he told CNBC there could be a “2.0 and 3.0 and a 4.0.”

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E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.