More from White House economic advisor Larry Kudlow
- Threat of Covid is not over but numbers are turning a little bit in our favor with fatalities leveling off
- Trump administration is very strong proponents of getting schools open for economic reasons, social reasons and education reasons
- We saw economic rebound beginning in May, there is a housing boom, a truckers boom and small businesses reopening
- Stock markets are very strong and jobs numbers are good after 3 blockbuster months
- Unemployment rate will come down to single digits may be in August
- We are developing quite a few therapies and medicines and the vaccine story is moving ahead at breathtaking speed
- Expects 20% growth or more in the 3rd quarter and a very strong 2021
- We are aware there are still 16 million people unemployed so we extended unemployment benefits
- States that already contributed $100 for unemployment benefits would be eligible and program would be retroactive to August 1
- Economic recovering and looking like a V shape
- If China had come clean earlier on virus it would have saved a lot of lives in the US and Europe
Kudlow is known as the Trump cheerleader for the economy. He is definitely glass half full (or more than 1/2 full, even if it is near empty. However, the employment statistics have been better. He does not say, but the stock market rise is giving the "haves" some nice gains. Does that trickle down to the masses. What he does tend to ignore is the impact of Covid. Yesterday close to 1300 deaths were reported and the numbers are staying above 1000 a day. It is great to root for a vaccine, but if it doesn't come, the numbers could continue to be troubling and that could ultimately hurt the economy/stocks too(?).
