White House economic adviser Larry Kudlow told Bloomberg on Friday that December's strong jobs report was more evidence that there is no "recession in sight," despite a "gloomy" period for the stock market.
The big picture: The strong job gains suggest a healthy labor market, but that's a lagging indicator. More forward-looking data points, like Thursday's manufacturing data, have raised red flags about the health of the economy. Kudlow also played down the impact of the U.S.-China trade war on U.S. companies, saying, "It's a little easy and inaccurate to say all of these American companies are going to crash."