The U.S. economy is rebounding “very, very strongly,” and fresh federal aid will reach unemployed Americans in the next week or two, White House economic adviser Larry Kudlow said on Wednesday, shaking off concerns about a second wave of COVID-19 infections.
Kudlow, speaking to reporters at the White House, defended a reduction in the unemployment supplement to $300 from $600, saying stimulus measures should be reduced slowly as the economy strengthens.
“I think the economy is on a self-sustaining recovery and it’s a V-shaped recovery,” he said. “We’re seeing terrific numbers.”
Asked about concerns that a second wave of coronavirus infections this autumn and winter could derail the recovery, Kudlow said: “The hope is that the decline in cases and fatalities will continue. That’s the great hope.”
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