Larry Kudlow, the head of the National Economic Council, says the economy is having “booms” in housing, retail and autos that are fueling a “self-sustaining V-shaped recovery.”
In an interview on Sinclair Broadcasting’s “America This Week” on Wednesday, Kudlow touted indicators showing the bounce.
"The main thing right now is not only are the virus numbers going down but the economy is producing tremendous numbers,” he said. “It's a self-sustaining V-shaped recovery."
“We’ve got housing booms, retail booms, auto booms,” he asserted.
“The president has got a whole series of tax cuts … deregulatory … that’ll provide a lot of torque to the economy,” he added, noting President Donald Trump has “drawn a very strong red line compared to the other team.”
But “any tax changes or forgiveness of the payroll tax deferral would require congressional approval,” he said. “So far they haven’t done it.”
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