President Trump’s electrifying economy surpassed almost all expectations and confidence flooded the markets. He promised to deliver massive growth and massive growth was delivered. In Obama’s last year, the rate of GDP decelerated from 2.3% in Q2, 1.9% in Q3, and 1.8% in Q4. Under Trump, the rate of GDP averaged 2.7% and soared through 4.2% last quarter. So why is there so much skepticism about the future of the economy?
The economy has been in remarkable shape the past year yet every time the mainstream media saw an opening they were quick to indicate that “It can’t keep this up”, “the bubble is going to burst”, or “a recession is right around the corner”. It is safe to assume that a congratulations was never in order from the leftist news sources. But it does lead you to question, is a recession on the horizon?
According to the latest CNBC Global CFO Council Survey, there will not be a recession this year. Not a single chief financial officer in North America believes there will be a recession in 2019. Confidence in the U.S. economy is extremely high among CFO’s across the regions.
The question, “Do you think the U.S. economy will experience a recession in 2019?” was asked among three regions; U.S. region, Asia-Pacific region, and Europe, Middle-east, Africa region. CFO responses were astoundingly optimistic. 0% of CFO’s in the U.S. or Asia-Pacific regions believed there would be a recession and only 11.8% of CFO’s in Europe, the Middle-east, and Africa believed there would be a U.S. recession. Compare this with the Eurozone results where less than half of North American CFO’s were willing to say there wouldn’t be a recession in Europe.
Federal vice chairman for the Federal Reserve Bank of Dallas, Richard Clarida expressed how fragile the global economy currently is but in regards to the U.S. economy “…is in a good place right now….It’s a good situation to be in, and we really want to do whatever we can to help support and maintain the economy.”
The Trump-made economy continues to succeed despite countless and endless attempts from the left to downplay its successes and highlight any potential drawbacks.