The bull market run shows a "very strong signal of tremendous consumer and business confidence," setting us up for a return to 3% growth in 2020 and making a case for President Donald Trump's re-election, according to White House economic adviser Larry Kudlow.
"Almost nobody expected that to happen, and then it happened, and it got stronger," Kudlow told "The Cats Roundtable" on 970 AM-N.Y. about 30% growth in the stock market indexes. "The way I read it is, the market is a very strong signal of tremendous consumer and business confidence – a tremendous signal of confidence.
"It tells me that the economy in the coming year is going to be even stronger, probably back into a 3% growth zone."
This is not a coincidence, Kudlow told host John Catsimatidis, taking a bow for the success of the pro-growth, pro-business, deregulation, free market, trade-opening and tax-cutting policies of the Trump administration.
"Let's keep it in place, that's going to be the message of this election," Kudlow said. "We have a great boom going here, OK, the middle-class boom, as I've been calling it – the blue-collar bloom. We've got to keep that in place.
"The president has made good on his policies, and I just think we need to stay on this course, and if we do, we've go years of prosperity ahead of us."
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