Good news everyone -- famous prognosticator and Trump's top economic adviser Larry Kudlow says we're not going to see a recession anytime soon.
Kudlow spoke at an investment conference hosted by CNBC this morning where he delivered the news.
There is "no recession in sight right now," Kudlow said Wednesday at the Delivering Alpha conference, presented by CNBC and Institutional Investor.
The spread between the two government debt instruments has plunged to about a quarter point, or 25 basis points. Some economists say that when the short-term yield exceeds its longer-term counterpart, that means a recession is coming, probably within a year. An "inverted yield curve" has foretold each of the past seven recessions.
It's funny that Kudlow said this at an investment conference because some of the world's biggest investors are already preparing for a possible recession. Some have even expressed what might be described as excitement because a downturn would allow them to swoop in and buy up assets and property when the price falls into the basement.
I'm not an expert; I can't sit here and say we're definitely going to see a recession in late 2019 or early 2020 as an increasing number of actual experts predict, but Larry Kudlow is no expert either.
The last time Larry Kudlow said there wasn't going to be a recession, the Great Recession began just a month later.
The really good news for Larry Kudlow is he probably won't still be Trump's adviser when the next recession actually does begin. And that will be nice, won't it? He can go back to pretending to be an expert on television.