Flashback Quote of the Day

“The impact on the American economy will be very, very, very small, if any… We really haven’t seen any economic impact. There may be some out there. Our own internal numbers say maybe two-tenths of a percent in the first quarter, but that’s not going to end this growth cycle.”

— White House economic adviser Larry Kudlow, on Fox News, February 7, 2020.

Reality check by Bloomberg: “The record-long U.S. economic expansion is over after almost 11 years, with what’s likely to be the deepest recession in at least eight decades now under way.”