US Recovery Doesn’t Depend on a Stimulus Deal, Kudlow Says

October 12, 2020by Tony Czuczka, Bloomberg News (TNS)
In this file photo, Director of the National Economic Council Larry Kudlow attends a news conference in the briefing room of the White House on September 23, 2020 in Washington, DC. Kudlow said a fiscal stimulus deal isn't essential to the U.S. recovery from the coronavirus pandemic. (Joshua Roberts/Getty Images/TNS)

A fiscal stimulus deal isn’t essential to the U.S. recovery from the coronavirus pandemic, though the Trump administration and Congressional Democrats will keep talking, White House economic adviser Larry Kudlow said.

“Well no, I don’t think it’s dead at all,” Kudlow said on CNN’s “State of the Union” on Sunday. “All I’m saying is some targeted assistance would go a long way right now.”

Capping a week of shifting signals from President Donald Trump on the amount of stimulus and how to get there, Kudlow said Treasury Secretary Steven Mnuchin may increase the administration’s offer in talks with House Speaker Nancy Pelosi.

Kudlow was asked about Federal Reserve Chair Jerome Powell’s call last week for more government spending to protect the recovery.

“It’s just getting Americans through a difficult period of time,” Kudlow said. “I don’t want to parse, but I don’t think the recovery is dependent on it.”

The U.S. will post strong economic growth in the third and fourth quarters, he said, bouncing back from the historic dive in the second quarter.

He didn’t elaborate or suggest a clear path to addressing opposition among Senate Republicans. Mnuchin and Pelosi are expected to continue talks this week, he said. Mnuchin headed into the latest talks on Friday with a White House offer of $1.8 trillion in economic stimulus. House Democrats have passed a $2.2 trillion proposal.

———

©2020 Bloomberg News

Distributed by Tribune Content Agency, LLC.

Economy

Gottheimer and Philips Urge Congressional PPP Renewal
Congress
Gottheimer and Philips Urge Congressional PPP Renewal
October 30, 2020
by Sara Wilkerson

Earlier this week, Rep. Josh Gottheimer, D-N.J. and Dean Phillips, D-Minn., discussed the continuously growing need to renew the Small Business Administration’s Paycheck Protection Program for a second round and urged both Congress and the administration to continue bipartisan negotiations for a new COVID-19 relief deal.... Read More

Flying is Safer Than Grocery Shopping or Eating Out, Report Says
Health
Flying is Safer Than Grocery Shopping or Eating Out, Report Says

Flying ranks below grocery shopping and eating in a restaurant when it comes to the risk of contracting COVID-19 in a public place, a new study claims. It's all in the ventilation and the protocols, researchers at Harvard University's T.H. Chan School of Public Health found in their Phase... Read More

Analysis: Winter Is Coming for Bars. Here's How to Save Them — and Us
In The News
Analysis: Winter Is Coming for Bars. Here's How to Save Them — and Us

If we really want to stem the spread of the coronavirus as winter looms and we wait for a vaccine, here's an idea: The government should pay bars, many restaurants and event venues to close for some months. That may sound radical, but it makes scientific... Read More

Senate Packs Up with Coronavirus Relief Bill on Ice Until After Elections
Economy
Senate Packs Up with Coronavirus Relief Bill on Ice Until After Elections

WASHINGTON — Senators prepared to leave town Monday night for their October recess with virtually no prospect of passing new COVID-19 aid legislation before the Nov. 3 elections. Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke by phone for 52 minutes on Monday in what has become a near-daily attempt to narrow... Read More

Pelosi, White House Say Each 'Moving the Goalposts' on Stimulus
Economy
Pelosi, White House Say Each 'Moving the Goalposts' on Stimulus

House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive and the Republican-led Senate might not act before the Nov. 3 U.S. election. Pelosi and White House Chief of Staff Mark Meadows accused each other of "moving the goalposts" on stimulus legislation in back-to-back... Read More

Coronavirus Relief Package Might Not Get Done Before Election Day, Pelosi Suggests
Congress
Coronavirus Relief Package Might Not Get Done Before Election Day, Pelosi Suggests

WASHINGTON — House Speaker Nancy Pelosi raised doubts Thursday about getting a coronavirus aid bill passed before the Nov. 3 elections, even if a bipartisan deal is reached in the coming days. While talks continue, she said it would take time to get a comprehensive bill written and reviewed by budget... Read More

News From The Well
scroll top