Donald Trump's camp is firing back at a Moody's Analytics assessment that his economic policies will send the United States into recession.
Moody's last week predicted that if the presumptive Republican nominee's proposals went into effect, the country would see a "lengthy recession" that could last up to two years. In addition, the report said the Trump plan would roll up another $11 trillion in national debt, trigger a trade war with China and push unemployment higher.
A pro-Trump economist, though, questioned the fundamental assertions in the report, as well as the objectivity of Moody's chief economist Mark Zandi, the lead author.
"The Moody's report is a partisan document that fundamentally lacks credibility," wrote Peter Navarro, an economics professor at the University of California-Irvine. "It is based on flawed assumptions that the authors admit 'are our own,' and these assumptions grossly misrepresent the Trump campaign's policy statements on the economy, trade, tax reform, and immigration."
Navarro said he examined the Moody's analysis — which resembled critiques from other Wall Street economists — at the behest of the Trump campaign, though he said his response was independent of influence from the campaign. Trump's side did not respond to a request for confirmation that Navarro was consulted.
The response rejects the key assertions of the Moody's analysis.
"Moody's Keynesian and partisan analysis also deeply discounts the supply side stimulus effects associated with the tax cuts themselves," Navarro wrote. "In reality, Trump's tax package will significantly stimulate GDP growth, the rate of job creation, and the tax revenues raised much as the Reagan supply side tax reforms did in the 1980s."