Peter Navarrette: Chip Somodevilla / Getty Images
The US economy will not face problems in the foreseeable future and will not cause the global crisis, said the TV channel ABC the head of the National Council on trade at the White house Peter Navarro.
Statements of the presidential adviser Donald trump were a reaction to the events of last week, when the debt market of the USA was recorded anomalous situation: the profitability of short-term two-year government bonds exceeded the yield on long-term ten-year securities. This phenomenon is called inversion of the yield. It means that investors consider the short term are riskier than long, and is considered the sure sign of a future recession not only in USA but throughout the world.
Navarro said he estimates the situation from the perspective of a professional economist to work in the White house 20 years preparing forecasts of future trends in the market. “I can confidently say that within 2020 the economy will be strong, the market will increase”, — said the adviser of the President.
In another interview to CNN — Navarro stated that the inversion of the yield in this case is called “capital inflow” and indicates “a very positive situation in the economy.”
Video, photo All from Russia.