Former Trump economic adviser still 'very nervous' about state of US economy
Recession fears linger as inflation hovers over 40-year highs
Stocks rise ahead of long holiday weekend
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Former Trump economic senior adviser Steve Moore joined "Cavuto: Coast to Coast" Friday to discuss Americans spending money as inflation shows slight improvement, arguing there is still reason to remain "very nervous" about the current state of the economy.
STEVE MOORE: People are getting out. They are spending money. The real question is, you know, whether that bubble is going to burst. Now, we did, as you just reported, we did see the new numbers on inflation. And they were a little bit better. A little bit. But we're still talking about 6.5% inflation and that's still not keeping up with wages.
Former Trump senior economic adviser discusses the country's inflation crisis during his appearance on "Cavuto: Coast to Coast" on May 27, 2022. (Fox News)
FED'S PREFERRED INFLATION GAUGE ROSE 4.9% IN APRIL, STILL NEAR 40-YEAR HIGH
I wouldn't get too caught up in these numbers. They were a slight improvement, but they weren't a big improvement. Which you've been reporting is correct that the gas prices continue to go up. So that's going to reverberate throughout the economy. And so I am very nervous about where this economy is right now.
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Moore: Inflation still not keeping up with wages
Former Trump senior economic adviser Steve Moore on rising prices as inflation rips through the U.S., arguing the inflation numbers were a slight improvement but not a big improvement.