Will Elizabeth Warren’s proposals sabotage the economy?
“We’re on a record-long stretch of jobs growth, we have a record-long stretch of economic growth and it looks as if this will continue so long as we purse proper policies,” Griffith told FOX Business’ Liz MacDonald on “The Evening Edit.” And the ones that she’s [Elizabeth Warren] recommending sadly won’t get us there, they’ll bring on the calamity that she is now predicting.”
The 2020 Democratic presidential candidate on Monday predicted that the U.S. would soon experience an economic crisis unless the Trump administration and Congress pass legislation to regulate the financial sector.
Griffith also struck down Warren’s claim that the manufacturing industry will experience a recession.
“The facts just don’t back up what she’s saying. Real manufacturing, for instance, hit a record twice last year,” he said. “I think what she’s referring to is the industrial production index that’s highly volatile, it includes utilities and gas and oil and we all know from our personal lives those are highly volatile components and on occasion, you do see a dip in that.”
In the first quarter of 2019, the U.S. economy grew at an annualized 3.1 percent rate and according to data published by the Federal Reserve, manufacturing production rose by 0.4 percent last month.