Experts warn over 'wobbly' US economy, Biden's economic 'lie'

foxbusiness.com:

'Kudlow' panelists Steve Moore, Kevin Hassett and Steve Forbes react to the president's planned sweeping tax hikes.

Though America’s economy has shown some signs of health and growth, two experts warn it’s more «wobbly» than it seems.

«The economy is growing. However, the gold price commodity prices are telling us the dollar is wobbly,» Forbes Media founder and CEO Steve Forbes said on a «Kudlow» panel, Monday.

«The Fed's got problems ahead,» he continued, «and you don't cure it by raising interest rates and depressing the economy.»

Following up on Forbes’ commentary, ex-Council of Economic Advisors Chair and Trump administration senior advisor Kevin Hassett echoed unstable concerns.

BIDEN MUST STOP INFLATION DENIAL AND QUIT DOING DUMB THINGS

«One of the reasons why retail sales were so strong is that there were really blockbuster sales at gas stations,» Hassett pointed out. «The AAA average price in the U.S. went from $3.30 last month to $3.60 this month, and that's money that people aren't going to have to spend on other things. And so I think that the economy is more wobbly than these data suggests.»

President Biden has created a «wobbly» economy, Steve Forbes and Kevin Hassett argued on «Kudlow» Monday. (Getty Images)

Monthly retail sales numbers reported by the Commerce Department showed Americans picked up the pace of spending in March even as they continued to face high interest rates and steeper prices for everyday goods.

Spending on everyday goods including cars, food and gasoline, jumped 0.7% last month, much higher than the 0.3% increase forecast by LSEG economists.

The March advance is not adjusted for inflation, meaning that consumers may be spending the same but getting less bang for their buck.

Forbes