Kudlow: 'Trump factor' behind recent economic gains

Kudlow: 'Trump factor' behind recent economic gains
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Economist and former Trump campaign economic adviser Larry Kudlow says there is a "Trump factor" to recent stock market gains and an improvement in the economy.

"I do think there's a Trump factor here," Kudlow told radio host John Catsimatidis in an interview that aired Sunday on AM 970 in New York.

"Trump has made good on his promise to roll back hundreds of regulations: energy, finance, labor laws, you name it," he continued. 

"That is a huge cost savings for businesses," he said. "And that has instilled a lot of confidence. This is a pretty confident market. I would not mess with it right now. It looks awfully good." 

Several signs have pointed to economic gains under the Trump administration.

The U.S. economy added 209,000 jobs in July, exceeding economists’ estimates. And so far this year, the Dow is up 11 percent, crossing the 20,000 threshold in late January and 21,000 two months later.

 

"On the stock market rally," Kudlow said, "profits are the mother's milk of stocks. And the profit reports continue to exceed expectations. 

"That's the backbone of the stock market rally," he added.

Kudlow also said that the appointment of General John Kelly as White House chief of staff and the relative calm in the administration is inspiring confidence among Wall Street investors. 

"The Trump market," among increases in other global and domestic markets, is "playing into a bull market that is going to help everybody's retirement outlook."