Many financial analysts agree that the coronavirus will be a drag on the economy. But, how big of a hit and how long it will last is up for debate.
White House National Economic Council Director Larry Kudlow said in an interview on CBS News’ “Face The Nation” that he expects the economy to recover by the end of the year.
“I just feel, look, this is a story that will be very challenging in the short run,” Kudlow said. “But, Margaret, this is not a story of years; this is a story of weeks and months.”
He explained, “We come in, strong economy by all accounts, and I think by the end of the year we will be back to a strong economy. But, we’re taking these fiscal assistance measures just to make sure.”
Watch the interview below:
NEWS: @Larry_Kudlow tells @margbrennan that the Trump Administration will be on The Hill this week and have “a number of new proposals” for the struggling airline industry. pic.twitter.com/fOMVINhy9q
— Face The Nation (@FaceTheNation) March 15, 2020
Additionally, Kudlow voiced support for the stimulus package that was passed by the House — even though “it may not be a perfect bill.”
“Well, it would be a big help. It may not be a perfect bill, but it gets done essentially what we want it to get done. Take care of individuals, people on hourly wages, families, kids home, if your spouse is home. A lot of people may have to stay home in the weeks ahead. We want them to get paid.”
While he said he would “hate” to predict the Senate’s legislative schedule, Kudlow said he thinks the chamber will pass the stimulus package “pretty rapidly.”
