US economy is in 'very good situation' for Trump: Economist

Trump touts strong economy, points to low unemployment

Economists say economy is strong, but warn of potential risks

President Trump on Tuesday touted the strength of the US economy, pointing to low unemployment and strong job growth.

"The economy is in a very good situation," Trump said in a speech to business leaders. "We have the lowest unemployment rate in 50 years. We have the highest stock market in history. We have the strongest economy in the world."

Economists agree that the economy is strong, but they also warn of potential risks. The trade war with China is a major concern, and the Federal Reserve is raising interest rates, which could slow economic growth.

"The economy is in a good place right now," said Mark Zandi, chief economist at Moody's Analytics. "But there are some risks on the horizon. The trade war is a major concern, and the Fed is raising interest rates, which could slow economic growth."

Despite the risks, economists say the economy is likely to continue to grow in the near term.

"The economy is still growing," said Diane Swonk, chief economist at Grant Thornton. "The consumer is still spending, and businesses are still investing. I expect the economy to continue to grow in the near term."

The strong economy is a major boost for Trump as he seeks re-election in 2020.

"The economy is the number one issue for voters," said David Axelrod, a former senior adviser to President Obama. "If the economy is strong, it will be very difficult to defeat Trump."