“Inside the numbers is a glimmer of hope,” Kudlow says, adding that “80% of it was furloughs and temporary layoffs.” That 'doesn’t assure that you’ll go back to a job,' but suggests 'the cord between the worker and the business is still intact,” he adds.
Many of states have begun to lift tight restrictions meant to stop the spread of COVID-19 but some are doing so as cases continue to rise.Larry Kudlow, director of the U.S.
But as states around the country embark on the first stages of economic reopening plans, Kudlow cautioned that their impact on the economy may not be immediate and predicted at least one more round of grim numbers to come."I don't want to sugarcoat it because I think the numbers for May are going to be also very difficult," he told ABC News Chief Anchor George Stephanopoulos."It's going to take a while for the reopening to have an impact.
White House chief economic adviser Larry Kudlow speaks to reporters about the unemployment numbers caused by the coronavirus, at the White House, May 8, 2020, in Washington. White House chief economic adviser Larry Kudlow speaks to reporters about the unemployment numbers caused by the coronavirus, at the White House, May 8, 2020, in Washington., and its economic impact, have evolved over the course of the past few months. In February, Kudlow told CNBC the virus was"contained … pretty close to airtight" and did not believe the situation would result in"economic tragedy.
Then, in late March, after the administration"changed our whole posture and our whole strategy and we've gone full bore," Kudlowthat the then-recently signed third stimulus bill was"going to give a tremendous amount of resources to get us through what we still believe is going to be a question of weeks and months." However, the director acknowledged the relief legislation, topping $2 trillion,"may not be perfect.
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