White House chief economic adviser Larry Kudlow spoke during a meeting at the White House State Dining Room on May 29 in Washington. Alex Brandon / AP
White House economic adviser Larry Kudlow tried to calm the market afterwards Stocks fell Thursday on news about the projected second wave of coronavirus, claiming “there is no second wave.”
“I am not a health expert, but in what is called a surge, I talked with our health experts quite a long time last night. They say there is no second spike, I repeat, there is no second spike. And that – Sec. Mnuchin said yesterday in his testimony and “I fully agree, we will not close the economy,” Kudlow said when appearing on Fox News Friday.
After worrying about rising coronavirus cases, US stocks posted the sharpest sales in three months. US stocks surged on the opening bell Friday.
But Kudlow seems to contradict himself by saying some places are ready – although he is quick to say that the Trump administration has been dealt with.
Kudlow continued, “What you have is certain points look a little jumping. Some small metropolitan areas see it. The CDC and health workers have dealt with it – they sent several task forces to deal with it. You know, now, we have better equipment, more experience, far better testing. I mean that testing itself has jumped, so you will get a little more positive than that. But if you look at it nationally, the important point is the rate of increase in new cases is between 0 and 1 percent. That’s really flat, and with regard to death, it’s the same, actually lower than that, it’s like zero to half a percent. “
What do we know about viruses: While the number of new cases has not grown significantly at this time, 19 states experienced an increase in cases on Friday. In many countries, hospitalization also increased, an indicator of people seriously ill with Covid-19.
Kudlow also advised Dr. Deborah Birx – who is mostly silent and away from the camera – may look Friday, but it is unclear how or when.
“If I can calm my fears, once again I’m not a health expert, Amb. Birx might come out today too. Even so, there is no emergency, no second wave. I don’t know where it started on Wall Street,” he said.
