she is also advisor to the federal reserve. diane, it is always great to see you. thanks for being here. good to be here. so the big question on everyone s mind, is this sustainable? let me play you a little bit of what larry kudlow, the president s top economic advisor had to say, and get your reaction on the other side. this is sustainable. you know why it s sustainable? a couple things. in a sickly cal business cycle sense, we re coming off a low inventory base. that s extremely positive, okay. if inventories were the big contributor and you know they have to be worked off at some point, that would not be so great. this position cyclically is very strong. the second point i want to make is comes from the private sector gdp, cd plus i, business is booming. that s his case. is he right, diane? there is a case on the inventory side. we do still have a tail wind there. i agree with him there. on the downside, that one-time soybean surge in exports which
we re the economic envy of the entire world. when i meet the leaders of countries, the first thing they say, mr. president so nice to meet you. congratulations on your economy. you re leading the world. they say it each and every time. america is being respected again and winning again because we re finally putting america first. economists say these numbers are a short-term sugar high, a temporary boost and not sustainable in the long run. the president says it is sustainable and that s what his economic advisers are saying as well. in a cyclical business cycle sense, we re coming awful a low inventory base. if inventories were the big contributor and you know they have to be worked off at some point, that wouldn t be so great. this position is very strong. you can disagree with me. i understand that. other economists may.