Larry Kudlow at SPECS: Lower oil prices, strong dollar good for growth

New York -- The collapse of oil prices translates into a huge tax cut for 90% of the economy, former CNBC host, economist and newspaper columnist Larry Kudlow told attendees at Chain Store Age’s 51st annual SPECS show. Kudlow was a keynoter at the event, which was held at the Sands Expo, Venetian/Palazzo Hotel, Las Vegas, March 15 – 16, and brought together retail executives in store planning & design, construction and facilities.



“Nearly everyone benefits from lower, cheaper fuel,” Kudlow said. “It’s good for growth.”



The rising dollar also gives Kudlow reason for optimism.



“The dollar is the international currency,” he explained. “So everything you buy goes down in price. The money you have in your pocketbook now buys more with a strong dollar.”



While acknowledging that the economy is picking up steam, Kudlow said the country can definitely do better.



According to Kudlow, the economy is growing at about two-and-a-half percent a year, mainly due to the resilience of American businesses, but it should be growing at about 4% to 5%.



“It’s a sub-par recovery,” he added. “Our greatest challenge is to get the United States back on its long-term rapid growth rate. We’re not growing fast enough.”