Tags: Coronavirus | Financial Markets | larry kudlow | economy | virus | covid-19

Kudlow: 'Difficult Tradeoffs' Ahead for Nation's Economy

white house economic adviser larry kudlow
White House economic adviser Larry Kudlow (Tom Williams/CQ Roll Call via AP Images)

By    |   Monday, 23 March 2020 01:54 PM

President Donald Trump is correct with his tweeted assessment that the "cure can't be worse than the disease" and there will be some "difficult tradeoffs" when it comes to keeping the nation's economy afloat after the ongoing slam from the coronavirus pandemic, chief White House economic adviser Larry Kudlow said Monday.

"The economic cost to individuals is just too great," Kudlow told Fox News' "America's Newsroom." "More testing is essential. We're loading up with [coronavirus] tests now. That will be a big help ... we will have to make some difficult tradeoffs. I'm not disposed to get ahead of the story. I spoke to the president about this subject last night. We'll look at a number of different things. Let's give it another week."

He added that he's optimistic about the coronavirus stimulus bill making it through the Senate despite Democrats blocking its vote on Sunday.

Meanwhile, the Fed is "doing a great job" with its announcement Monday that it will lend to small and large businesses and local governments as well as extend its bond-buying programs. The move is just part of the Fed's ongoing efforts to support the flow of credit through the nation's economy, which has been savaged in a matter of weeks by the coronavirus outbreak.

"Think of it as Fed loans to small- and medium-sized businesses now looking at asset-backed stuff for credit cards and student loans and other borrowing mechanisms," said Kudlow. "This is absolutely essential. I think Wall Street and the stock market want to see this huge Fed credit liquidity backstop and the core of it, the equity piece is in the legislation which may or may not be voted on."

Meanwhile, the Senate should be able to come to an agreement on the coronavirus stimulus bill, said Kudlow.

"This is what will keep us whole while we hope and pray that the virus flattens out in the weeks ahead," he added.

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There will be some "difficult tradeoffs" when it comes to keeping the nation's economy afloat after the ongoing slam from the coronavirus pandemic, chief White House economic adviser Larry Kudlow said Monday.
larry kudlow, economy, virus, covid-19
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2020-54-23
Monday, 23 March 2020 01:54 PM
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