Earlier today on Varney & Co., Andy sat down with Stuart Varney to discuss the holiday season and some very positive Q4 predictions. “It is going to be really strong,” Andy said. He also notes the Federal Reserve Bank of Atlanta’s recent forecast of 2.8 percent during the fourth quarter, which would be the first year since 2005 that the U.S. has hit a 3 percent or better during Q4. “We’ll have a great holiday season. We could do much better than 2.8 percent but even if we do just that, it will be the best year we’ve had in over a decade,” added Andy.
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Also discussed was whether or not the Democrats will be able to put a cap on Trump’s booming economy now that they control the house. “The Democrats could stop the President from doing further things through the legislature to advance economic growth such as further tax cuts or sensible policies to reduce the deficit,” said Andy. However, Andy remains confident in Trump’s ability to push through his economic agenda. “President Obama said, ‘I’ve got a phone and I’ve got a pen.’ Well he was wrong, he had a phone and a pencil and this President has an eraser- Trump can continue to eliminate regulations which will further economic growth,” argued Andy.
In closing, Stuart asked Andy if the fed needs to keep raising interest rates. “We’re finally beginning to see working class Americans get some benefits from this economic boom. If you look at how weekly earnings have increased under President Trump versus President Obama… weekly earnings are up about 40 percent and since the tax cuts, they are up about 76 percent. We’re finally getting money into the hands of the consumers. Let’s not take it away by increasing interest rates and trying to drive economic growth down to keep inflation, which is already under control, under even more control- it doesn’t’ make a lot of sense,” said Andy.
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