Virginia Governor Glenn Youngkin thinks that Republican gains in the next election will help curb recession fears.
It will be a calming influence. Youngkin was speaking at the Delivering Alpha conference in New York City on Wednesday. If that can happen, we will see a slow down, but we won't see a hard landing.
Youngkin, a Republican, said Americans generally think his party will take back the House and that he iscautiously optimistic they will also regain the Senate. Youngkin was elected to office in Virginia last year. After 25 years with The Carlyle Group, he retired as co-chief executive officer.
I think we can manage through this with an election outcome that I think restores balance, but on top of that, companies maintaining confidence.
Virginia is open for business according to Youngkin. Virginia has held the top spot in CNBC's America's Top States for Business for the past two years.
The economy was boosted by Donald Trump's win in the 2016 election, according to Youngkin.
He said that the economy is going to head into a recession due to a decline in consumer confidence.
When it was clear that we were going to head into a recession and that Hillary Clinton was going to win, there was a switch, a change. We avoided a recession because of the sudden optimism after Donald Trump's election.
The University of Michigan Consumer Sentiment index went up after the election of Donald Trump and went up for the whole month.
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