One of Donald Trump’s top economic advisers now admits he was wrong about the economy. President Joe Biden.
Fox Business Channel host “I’m Sorry” Larry Kudlow “I was wrong about the slowdown and recession, and so was the entire forecasting community,” he said on the air Thursday.
However, Fox News host Sandra Smith tried to get him to quit.
“I don’t think you’re wrong,” she said.
But Kudlow, who served as director of the National Economic Council under Trump for nearly three years, persisted.
“Everyone was wrong, Fed,” he said, referring to widespread predictions of a recession in 2022 and 2023 that never materialized.
Kudlow noted that unemployment data will be released in a month’s time on Friday. Layoffs make headlines.
“My guess is that the Fed is looking more closely at this issue rather than inflation,” Smith said. In a clip posted on Mediaitenoting that the agency wants to curb inflation that could lead to job losses.
“If the labor market takes a significant hit, we could see a significant downturn in the U.S. economy,” she predicted.
Kudlow made a similar confession Regarding the strength of the economy last month, when gross domestic product (GDP) jumped faster than expected.
“He’s getting what he deserves,” Kudlow said of Biden. “If I were him, I’d go out and spread the hash. No problem.”
However, he added that a large part of the growth came from government spending.