US Economy ‘Now on the Upswing’ Despite the Fed, Global Slump: Kudlow

Strong retail sales data signals “big” economic growth in the third quarter, White House economic adviser says

National Economic Council Director Larry Kudlow speaks to reporters outside of the West Wing of the White House in Washington on Sept. 6, 2019. MANDEL NGAN/AFP/Getty Images

BALTIMORE—White House chief economic adviser Larry Kudlow said Sept. 13 that the U.S. economy is now on the upswing, despite a looming global recession and the Federal Reserve’s tight monetary policy.

U.S. retail sales rose 0.4 percent on a monthly basis in August, beating market expectations, according to a report released by the Commerce Department on Sept. 13. Solid retail data was driven by more-than-expected auto sales and online shopping.