Former Trump senior economic adviser Stephen Moore told Newsmax TV on Tuesday there is no need to worry about the stock market's dip in December.
"This is no Great Depression," Moore told "Newsmax Now" host John Bachman, who asked whether Americans should be nervous about a Dow Jones Industrial Average and S&P 500 plunge of nearly 8 percent Monday. "The real economy, which is looking at jobs, and industrial production, and wages, and consumer spending – all those are very strong.
"We're going to come in in the fourth quarter at 3 percent growth, maybe a little higher. For the year, we're going to be at 3.5 percent, that's a really phenomenal number compared to what he had under Obama."
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Both the Dow Jones and the S&P 500 are on pace for their worst December performance since 1931, and closed Monday down 7.6 percent and 7.8 percent, respectively. It is the worst December performance since 1931 when stocks were hammered during the Great Depression.
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