Kudlow: Unemployment assistance would be ‘smart’ to help economy
National Economic Council Director Larry Kudlow discusses the possibility of additional stimulus, Joe Biden’s plans to raise taxes and how the Trump administration has rebuilt the U.S. economy.
Parents who will need to stay home with children because of closed schools could put a damper on a V-shaped economic recovery, White House economic adviser Larry Kudlow said on Wednesday.
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"Kids should get back to school. Our watchwords here regarding any of these congressional negotiations are schools and kids," Kudlow told "Varney & Co." "We don’t have to spend a fortune, we just have to provide the necessary assistance. … There could be in certain areas some restraint on the recovery, on this V-shaped recovery, because parents may have to stay home."
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"Let's see how it plays out before we put quantities on that," Kudlow concluded.
Kudlow has been bullish about U.S. economic recovery amid the coronavirus pandemic and has repeatedly said that he expects at least 20% growth in the third quarter of 2020.
"We're going to grow at 20% in the second half [of 2020]," Kudlow said on Wednesday. "The third quarter’s numbers are probably going to be better than 20%. There's a V-shaped recovery."
The nation's schools are implementing a patchwork of policies about in-person classes because of coronavirus. New York City Mayor Bill de Blasio announced Tuesday that America's largest school system will delay in-class school instruction by 11 days to allow teachers and principals extra time to prepare to meet students amid the coronavirus pandemic.