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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsKudlow Says Economy Recovering, Focus Turns Away From Rescue
(Bloomberg) -- The U.S. economy is recovering from the act of nature that coronavirus shutdowns created, said White House economic director Larry Kudlow, rejecting a more cautious view of the outlook given last week by Fed Chairman Jereme Powell.
Theres a very good chance you are going to get the V-shaped recovery, Kudlow said on CNNs State of the Union on Sunday. The unemployment rate will fall, and 2021 is going to be another solid, solid year.
Kudlow said the $600-a-week bonus payments made to some Americans laid off during the coronavirus pandemic will end as planned on July 31 to prevent a disincentive for workers to return the jobs market.
Congress in March approved the payments as the economy reeled. Since then, its been reported that the U.S. officially fell into recession in March, ending a record 128-month expansion.
https://www.msn.com/en-us/news/politics/kudlow-says-economy-recovering-focus-turns-away-from-rescue/ar-BB15sOBj?li=BBnbcA1
smb
(3,453 posts)Newest Reality
(12,712 posts)That's an invitation to a disaster. This catastrophe requires mitigation for the people whose lives are severely impacted by it, especially since we have more waves brewing and a myriad of problems still looming from the first one.
To not do more now and give people some of the stimulus needed is going to make this into a steadily deteriorating event that will spread like COVID-19 has and will.
They can talk about not shutting down again with all the pomp and circumstance they like, it is going to shut itself down eventually because the fact that the virus is HIGHLY contagious and can spread exponentially will not be quelled by greed and bromides.
There is no chance of a V-shaped recover for US. It's going to be a hockey stick to hell and if the well-to-do are going to get one, it is only going to exacerbate the misery of we common folks as the economy continues to gush up and the Economic Hoover sucks us dry.
Iliyah
(25,111 posts)Turbineguy
(37,212 posts)I guess if they steal too much it might make for poor optics.
Wellstone ruled
(34,661 posts)this is Larry's last big time six figure income job. Think the sucker has burned to many bridges and he is now a Dead Ender.
He is now just a over paid Propagandist for The Trump Crime syndicate.
sop
(9,948 posts)with zero oversight, transarency or accountability. Sweet deal. No wonder Larry's so upbeat.
sfstaxprep
(9,998 posts)area51
(11,868 posts)In what alternate universe?
NCjack
(10,279 posts)a "W" recovery, which will begin in early February 2021. It will be known as the "Biden Recovery".
Also, President Biden will get the Nobel Prize in 2021. One reason being that the Nobel nominating cmte is itching to drive its fist up Trump's arse.