US President Donald Trump is creating an environment that’s conducive to strong consumer spending, says economist Robert Shiller. It’s a major force that should hold off a recession, he adds. “Consumers are hanging in there. You might wonder why that would be at this time so late into the cycle. This is the longest expansion ever. Now, you can say the expansion was partly [President Barack] Obama,” Shiller said in an interview with CNBC. “But lingering on this long needs an explanation.” The explanation, according to the Yale University professor, is US President Donald Trump. “I think that [strong spending] has to do with the inspirat
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