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One of Trump's top advisers claimed the yield curve has signaled 'a very strong Trump economy.' But he said the exact opposite in his book in 2006.

One of Trump's top advisers claimed the yield curve has signaled 'a very strong Trump economy.' But he said the exact opposite in his book in 2006.
Screenshot via video.foxnews.com/



White House trade adviser Peter Navarro has sought to downplay a warning for the economy that flashed in recent days.




But in a book he wrote in 2006, he touted the ability of that same signal to predict a potential recession.




Navarro wrote in the book that a "flat curve is an only slightly weaker signal of recession" and praised its ability to predict a downturn.




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White House trade adviser Peter Navarro has sought to downplay a warning for the economy that flashed in recent days. But in a book he wrote in 2006, he touted the ability of that same signal to predict a potential recession.
"Technically, we did not have a yield curve inversion," Navarro claimed Sunday on CNN's State of the Union, referring to Wednesday when the spread between long-term and short-term rates briefly flipped. "An inverted yield curve requires a big spread between the short and long."
He's referring to the so-called yield-curve inversion that sparked market panic last week — an instance where the yields offered by short-term bonds eclipsed those offered by their longer-dated counterparts for the first time since June 2007. Because such a development has historically preceded recessions, financial markets dropped sharply afterward on fears of slowing growth.
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