Larry Kudlow Says ‘the Economy Is Booming,’ It’s Very Hard to Read into the Midterms About the Economy

EXCERPT:

KUDLOW: “And I just want to say, we don’t know the outcomes, these midterms can be very eccentric because the economy right now is booming. Just today, if anyone looks, the jolts number -- the jobs numbers are terrific, the manufacturing ISMs are up 10 straight months, business investment is booming. Despite gasoline prices, consumer spending is absolutely booming, nearly 4% at an annual rate. We haven’t seen these kind of numbers since the Reagan 80s. We’re having productivity, the AI revolution, the stock markets are near high. I mean, it’s very hard to read, I think, into these midterms a lot about the economy. Now, I know everyone’s talking about gasoline prices, I get that, and I know that they’re very uncomfortable and I know the media has obsessed about gasoline prices. But even with that, consumers have never stopped spending. Why? Because they’re working, their incomes are going up and their taxes went way down. So that’s one point I want to make. Second point I want to make is, we’ll see what the outcome is, but if the old Congress moves to the left and they try to undo the tax cuts and the deregulation and the drill, baby, drill and other Trumpian initiatives, he will veto them. He will veto them and he will use executive orders to govern, as he has in the past, and I think that’s the right approach. This is the hottest economy in the world.”