President Donald Trump's new economic adviser made a stunning prediction about the U.S. economy recently, telling the White House that he believes the nation's economy is on the cusp of hitting up to 5% economic growth.
The Washington Examiner reports that Kudlow privately told the White House that "the nation’s economy is on the verge of 4% to 5% growth, or more than double the last decade."
Kudlow is said to have made the remarks at a recent gathering with the president where he suggested that many companies were holding back until the tax reform bill was passed and signed into law.
Kudlow told Trump, "We’re on the front end of the biggest investment boom in probably 30 to 40 years.”
Trump responded by saying, “Well, I couldn’t have said it any better.”
Kudlow accepted a job offer from Trump earlier this week to replace Democratic economic adviser Gary Cohn as the White House National Economic Council director. Fox News reported:
Kudlow’s extensive career in finance includes stints working for the Federal Reserve Bank of New York and serving as a chief economist and senior managing director at Bear Stearns, the defunct investment bank that failed during the 2008 financial crisis.
Kudlow served as the associate director for economics and planning in the Office of Management and Budget (OMB) during former President Ronald Reagan’s first term.