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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTop White House economic adviser expresses uncertainty about recovery despite Trump's confidence
The White Houses top economic official expressed uncertainty on Thursday that Americas economy would swiftly rebound from the downturn caused by the coronavirus pandemic, striking a more cautious tone about the recovery than President Trump has in recent days.
Larry Kudlow, director of the White House National Economic Council, said there are some small glimmers of hope" and voiced optimism about a dramatic improvement this summer. But he emphasized the coronavirus still poses a unique and unpredictable threat to the nations economy and that the overall picture appears bleak.
Look, its really hard to model a virus, a pandemic, the likes of which we have not seen for 100 years, Kudlow said at a Washington Post Live event. The numbers coming in are not good. In fact, they are downright bad in most cases. But we are seeing some glimmers, perhaps
theres a lot of heartbreak here. Theres a lot of hardship here. Theres a lot of anxiety here. Its a very difficult situation."
Kudlows remark suggests Trumps eager touting of a tremendous economic recovery may not be the phrasing used by some of his senior advisers as they confront the crisis and troubling data. On Thursday, the Department of Labor reported that 2.4 million Americans filed jobless claims last week, with close to 39 million filing jobless claims since the pandemic began hammering the U.S. economy in March.
https://www.msn.com/en-us/news/politics/top-white-house-economic-adviser-expresses-uncertainty-about-recovery-despite-trumps-confidence/ar-BB14qEWu?li=BBnbcA1
OAITW r.2.0
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(3,997 posts)voiced optimism about a dramatic improvement this summer. But he emphasized.....that the overall picture appears bleak.