White House economic adviser Larry Kudlow, in a tweet that put an awkward exclamation point on Friday’s big stock-market rally, cheered “we’re killing it on the economy” and it’s “totally awesome.”
Nice timing, Lar.
In the first trading session since that tweet went viral, it certainly doesn’t feel totally awesome for traders who were anticipating good news on the trade front. Instead, the president announced Sunday that tariffs on $200 billion in Chinese goods will be increased on Friday to 25% from 10%.