President Donald Trump’s top economic adviser said Sunday the economy remains in “a strong rebound” even as Americans learn to “deal with” the coronavirus.
In an interview on CNN’s “State of the Union,” Larry Kudlow argued in favor of a new stimulus bill even as he praised the conclusion of medical experts that “focused protection” can get nation through the pandemic.
But, Kudlow added, a national economic recovery won’t necessarily need a stimulus.
Kudlow was asked about Federal Reserve Chair Jerome Powell’s call last week for more government spending to protect the recovery.
“It’s just getting Americans through a difficult period of time,” Kudlow said. “I don’t want to parse, but I don’t think the recovery is dependent on it.”
The U.S. will post strong economic growth in the third and fourth quarters, he said, bouncing back from the historic dive in the second quarter.
“We are are in a strong rebound,” Kudlow asserted. “Lower taxes and lower regulations going way back are still in place and businesses are reopening.”
“We are learning to deal with the virus in a targeted safe preventative way. … some targeted assistance would go a long way right now,” he said.
When host Jake Tapper snapped back that “We are not learning with the virus,” Kudlow cited the conclusion of a group of U.K. and U.S. experts who encourage “focused protection” instead of lockdowns.
“Five thousand experts just signed a petition led by people from Harvard, Stanford, Oxford University,” he said. “These are scientists, these are doctors, healthcare workers who say we can deal with this virus going on while we are getting new therapies… new vaccines.”
“As long as we protect the most vulnerable, as long as we preserve the key guidelines, yes, we can get through this,” he insisted. “We are not going to shut down the whole economy. There is no reason for that. We will take care of the vulnerable. That is the key point.”
Kudlow also asserted “there will be masks” and social distancing at upcoming rallies held by Trump — the first since the president was sickened and recovered from COVID-19.
“There will be masks at these rallies,” he said. “There will be social distancing at these rallies. There will be appropriate testing… Most of all we have to stick to the hygiene issues, washing your hands and face and so forth. These things can be done. We can do that.”
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