Economist and former Trump campaign economic adviser Larry Kudlow said that the “Trump factor” is the reason we’re now seeing bigger stock market gains and an overall improvement in the economy.
“I do think there’s a ‘Trump Factor’ here, said Kudlow in an interview with radio host John Catsimatidis that aired Sunday on AM 970 in New York.
Kudlow pointed out, “Trump has made good on his promise to roll back hundreds of regulations: energy, finance, labor laws, you name it. That is a huge cost savings for businesses, and that has instilled a lot of confidence. This is a pretty confident market. I would not mess with it right now. It looks awfully good.”
Several signs have indicated economic gains under the Trump administration, including new jobs and stock market gains.
Exceeding economists’ estimates, the U.S. economy added 209,000 jobs in July. And so far this year, the Dow is up 11 percent, crossing the 20,000 mark in late January and 21,000 two months later.
“On the stock market rally,” Kudlow said, “profits are the mother’s milk of stocks. And the profit reports continue to exceed expectations. That’s the backbone of the stock market rally.”
According to Kudlow, President Trump’s appointment of General John Kelly as White House chief of staff is inspiring confidence among Wall Street investors, now that the administration seems to be more calm and measured.
“The Trump market,” among increases in other global and domestic markets, is “playing into a bull market that is going to help everybody’s retirement outlook,” stated Kudlow.
About Larry Kudow
Lawrence Alan “Larry” Kudlow (born August 20, 1947) is an American conservative commentator, economic analyst, television personality, and newspaper columnist. He was the host of CNBC‘s The Kudlow Report. As a syndicated columnist, his articles appear in numerous U.S. newspapers and web sites, including his own blog, Kudlow’s Money Politic$.
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