“This is a fundamentally very sound economy.” NEC Director Larry Kudlow discusses the strength of the U.S. economy under President Trump.
"I just think, in general, I would be very careful to put too much emphasis on what bond rates are doing, what interest rates are doing. Or even in the short, short run, the stock market," he said. "I think you have a lot of mood swings here and I don't think it reflects the fundamentals."
Though traders widely blamed the coronavirus for Friday's risk-off pivot, some suggested the record low on the 30-year bond represents a longer-term view that economic growth could be set for slower growth and that the Federal Reserve may not be equipped to remedy a slowdown. But Kudlow countered that the stock market's strong gains over the last 12 months are a sign of "business and consumer confidence" and a sign that corporate condition could remain healthy throughout 2020.
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