Facts First: White House trade adviser Peter Navarro is wrong on two fronts. The inversion did happen, and it's not a good sign for the economy.
New York On Sunday, White House trade adviser Peter Navarro brushed off concerns of an impending recession. Navarro, known for his outside-the-mainstream positions on economic policy, told CNN's Jake Tapper that the yield curve was not"technically" inverted last week.
This is what Navarro said:"Technically, we did not have a yield curve inversion. An inverted yield curve requires a big spread between the short and the long --we had a flat curve that was a weak signal of any possibility. In this case, the flat curve is the result of a strong Trump economy."Facts First: Navarro is wrong on two fronts: The inversion did happen, and it's not a good sign for the economy.Although the inversion was brief and small, major banks took note of it.
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