(Reuters) – White House economic adviser Larry Kudlow on Thursday said he expects the U.S. unemployment rate to return to single-digit levels as early as this month and growth in the third quarter should be 20% or more as the economy recovers from the recession triggered by the coronavirus pandemic.
“The key point that I would make is the economy is rebounding, it looks like a V-shaped recovery and the recent news now is even better than it was a month ago,” Kudlow said in a virtual appearance at a conference hosted by the Council of the Americas.
(Reporting By Jonnelle Marte and Dan Burns; Editing by Chizu Nomiyama)
WASHINGTON (Reuters) – White House economic adviser Larry Kudlow said on Monday there is no second wave of the coronavirus pandemic, even though there are some flare-ups in states such as Florida, and it is unlikely there will be widespread shutdowns across the country.
“There are some hotspots. We’re on it,” Kudlow said in an interview with CNBC. “We know how to deal with this stuff now. It’s come a long way since last winter and there is no second wave coming.”
Cities and states across the country this spring issued restrictive work-from-home and social distancing orders to try to slow the spread of the respiratory infection, keeping shoppers out of stores and driving up lay-offs. Then, as cases and deaths steadied or dropped in some places, some states that eased restrictions began to see a rise in infections, including Arizona and Florida that saw record numbers of new cases, generating fears about another chill to economic activity.
While the U.S. Congress has already passed three massive spending bills to support the economy and fight the novel coronavirus, it is working on another deal with the White House, which Kudlow said could be reached later this summer. The size of the new package, commonly called “Phase Four,” has not been determined and it may include state and local aid, Kudlow said. In general, he said, he would like any relief bill to move toward longer-term economic incentives.
(Reporting by Lisa Lambert and Susan Heavey; Editing by Chizu Nomiyama)
WASHINGTON (Reuters) – White House economic adviser Larry Kudlow said on Friday that the U.S. team was “open-minded” about the outcome of U.S.-China trade talks next week, which will include deputy-level meetings on Monday and Tuesday, with minister-level meetings Thursday and Friday.
Kudlow declined to make any predictions about the talks but said that there had been a “softening of the psychology on both sides” in the past month, with the United States delaying some tariff increases and China making some modest purchases of American farm products.
(Reporting by David Lawder; Editing by Kevin Liffey)
