Yesterday on Making Money with Charles Payne, Andy joined Charles and Brandywine Global’s Jack McIntyre to chat about National Economic Council Director Larry Kudlow’s confidence in the current U.S. economy. “I think we are doing very well right now. In fact, the one thing that’s driving the current level of economic growth, about two-thirds of it, comes from consumer spending,” said Andy. “Larry Kudlow is part of the White House and has some political motivation, but I don’t think he is wrong. I think we have a very, very strong economy. We have a 3.3 percent GDP so far this year. Last November, these same Goldman economic experts were projecting we’d have 2.5 percent GDP growth for the year so I think we’re in good shape,” continued Andy. Watch the latest video at <a href="https://www.foxbusiness.com">foxbusiness.com</a> In closing, when asked about the possibility of potential runaway inflation as the U.S. economy saw back in 1974, Andy notes anything is possible and that we do need to raise interest rates, just at a slower and more steady pace. “If you raise interest rates eight times in a two-year period, that is going to have an impact on interest-bearing fixed income investments and it is going to have an effect on equity,” argued Andy. “The economy’s not out of control, interest rates are not out of control, inflation is not out of control – if you are going to raise interest rates, just do it slowly.”
Click here if the above video does not load.
Comments