Tags: Coronavirus | Trump Administration | kudlow | coronavirus | second | wave

Kudlow: 'No Second Wave' of Coronavirus Coming

Monday, 22 June 2020 09:10 AM

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," the veteran financial guru and former Ronald Reagan adviser said.

"I really think it’s a pretty good situation,” said Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985. “Actually, I think nationwide the positivity rate is still quite low, well under 10%,” said Kudlow, who served as the Trump campaign's senior economic adviser.

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. 

Kudlow listed a number of items Trump has publicly mentioned as possible items in a future economic support bill.

“Things the president has talked about publicly: He has talked about a payroll tax holiday for the workforce, he’s occasionally talked about capital gains tax relief,” said Kudlow, assistant to the president for economic policy and director of the White House’s National Economic Council.

“He wants to help out with some form of tax relief. Restaurants, entertainment, athletic contests, things of that sort,” he added. “We want to help out the tourism business, which has been hurt very badly. We also want to reward people who are re-employing, who are going back to work.”

© 2020 Thomson/Reuters. All rights reserved.


   
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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.
kudlow, coronavirus, second, wave
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2020-10-22
Monday, 22 June 2020 09:10 AM
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