Tags: Coronavirus | Trump Administration | kudlow | unemployment | election | trump | virus

Kudlow: No Need for More Unemployment Aid Even as Election Looms

Thursday, 21 May 2020 01:38 PM

U.S. White House economic adviser Larry Kudlow on Thursday dismissed the idea of extending unemployment benefits even as he acknowledged that nation's unemployment rate could still be in double digits when American vote in November.

Kudlow told a Washington Post live webcast interview that President Donald Trump was happy with the U.S. Federal Reserve's performance but differed with the president in saying he did not see a need for the central bank to pursue negative interest rates right now. 

“I do not believe that more government spending is going to give us a strong and durable recovery -- that’s been tried before,” he said.

Kudlow said options under consideration in the White House include a payroll tax cut, capital gains tax exclusion and easing regulations -- all part of Trump’s broader economic agenda. He said extending unemployment insurance isn’t under consideration because “many Americans want to go back to work.”

Meanwhile, Kudlow also said that the Phase 1 U.S.-China trade deal is "intact" despite Chinese purchases of U.S. goods that are running behind schedule due to coronavirus shutdowns and there will be no renegotiation of it.

Kudlow said U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin "have reported to the president that the deal is intact and China has every intention of implementing it." 

© 2020 Thomson/Reuters. All rights reserved.


   
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U.S. White House economic adviser Larry Kudlow on Thursday dismissed the idea of extending unemployment benefits even as he acknowledged that nation's unemployment rate could still be in double digits when American vote in November.
kudlow, unemployment, election, trump, virus
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2020-38-21
Thursday, 21 May 2020 01:38 PM
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