Though America’s economy has shown some signs of health and growth, two experts warn it’s more “wobbly” than it seems.
“The economy is growing. However, the gold price commodity prices are telling us the dollar is wobbly,” Forbes Media founder and CEO Steve Forbes said on a “Kudlow” panel, Monday.
“The Fed’s got problems ahead,” he continued, “and you don’t cure it by raising interest rates and depressing the economy.”
Following up on Forbes’ commentary, ex-Council of Economic Advisors Chair and Trump administration senior advisor Kevin Hassett echoed unstable concerns.
“One of the reasons why retail sales were so strong is that there were really blockbuster sales at gas stations,” Hassett pointed out. “The AAA average price in the U.S. went from $3.30 last month to $3.60 this month, and that’s money that people aren’t going to have to spend on other things. And so, I think that the economy is more wobbly than these data suggests.”
Monthly retail sales numbers reported by the Commerce Department showed Americans picked up the pace of spending in March even as they continued to face high interest rates and steeper prices for everyday goods.
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