The most important fiscal matter is for Congress to reach a clean continuing resolution to keep the government open past 30 September White House economic adviser Larry Kudlow said Monday.
“We have to really respect Justice Ginsburg and may she rest in peace,” Mr. Kudlow said on TV. “I think the most immediate issue fiscally is to get a clean, continuing resolution.”
He added that he thinks the Ginsburg replacement nomination “will take care of itself. The President will nominate when he is ready to nominate and the Senate will act accordingly. It’s a legislative process. I do not want to get in the middle of any of that.”
Meanwhile, the stock market experienced a pull back Monday following news coming out of London, where there was another spike in virus cases that may result in closing down the economy again.
“The good news here for us is we are in much better shape on the virus, and our hot spot spikes this Summer have calmed down quite a bit in terms of cases and fatalities,” said Mr. Kudlow. “I would say our economy is in very good shape, at least relatively speaking, in terms of a V-Shaped recovery.”
The continuing resolution is a different matter than the China virus aid/relier/stimulus bill, which remains at an impasse, he said.
The recovery will not depend on another stimulus package.
He said Monday there are some parts of it that are worth negotiating, but “if it cannot be done, it cannot be done. I think the economy is definitely improving.”
Job numbers are good, he said, and sales are booming in retail, housing, and automobiles as the inventory cycle is building.
“These are very positive things,” said Mr. Kudlow. “I think that is going to be reflected in the stock market before long.”
Have a healthy day, Keep the Faith!