#US #VShape #recovery #economy #jobs #aid #relief #stimulus #PresidentTrump
Tuesday, White House economic adviser Larry Kudlow declared that the United States can survive until the end of the year without another round of aid/relief/stimulus as the nation is in a “self-sustaining recovery.“
“Besides the jobs, we are in a housing boom, autos boom, a consumer spending boom,” Mr. Kudlow said. “Inventories are rock bottom. They will be rebuilt. Small businesses have greater confidence. No, the economy is rebounding. It is V-Shape, at least 20% in Q-3 and probably Q-4.“
Mr. Kudlow denied that there is a new focus on the economy as an election talking point, as the economy has “always been a Key focus.”
“The economy for the 3 years before the pandemic was spectacular with a 3.5% unemployment rate,” he said. “The pandemic contraction was brutal and there is still a lot of hardship.”
President Trump has led a “rescue mission,” and even though talks have stalled for another round of coronavirus relief, “we have had a terrific recovery.”
The jobs report released last week showed, 8.4% unemployment, which nobody expected until early next year, Mr. Kudlow said.
Mr. Kudlow said he also agrees with President Trump’s comments that he will create 10-M jobs next year if he is re-elected, but disagrees with Fed Chairman Powell who says it will take a lot longer.
“The Fed chair has his own views,” said Mr. Kudlow. “He has done a great job getting interest rates to Zero and making loans to key areas and getting money into the economy. I have no quarrel with his actions. We are a little more optimistic.”
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