There is no second wave of coronavirus coming, according to White House economic advisor Larry Kudlow. He said that it is "just hotspots."
During an interview with “Squawk Box” co-host Becky Quick, Kudlow said he is not too concerned about the resurgences of coronavirus cases in several states.
“There is no second wave coming," said Kudlow. "It’s just hot spots. They send in CDC teams, we’ve got the testing procedures, we’ve got the diagnostics, we’ve got the PPE. And so I really think it’s a pretty good situation."
“Actually, I think nationwide the positivity rate is still quite low, well under 10%.”
Stimulus package
Kudlow, director of the National Economic Council and chief economic advisor to President Donald Trump, mentioned that the legislators will likely come up another stimulus package by the end of next month.
His statements came after the US recorded over 30,000 new coronavirus cases on Friday and Saturday, the highest figures since May 1, based on Johns Hopkins University data.
There is an increase of coronavirus cases in several states in the South, West and Midwest, such as Florida and South Carolina.
Health officials said that upswings in new coronavirus cases may have originated from younger people who are going to bars and social gatherings. The World Health Organization stated that the pandemic has entered a “new and dangerous phase” as the disease spreads in new locations globally and multiplies in areas that have started to relax protective rules.
However, Kudlow stressed that the resurgence in the national numbers is focused on a handful of “hot spots” including Arizona, Florida, and Nevada. He said he is not concerned about a bigger return of the coronavirus.
“There are some hot spots. We’re on it. We know how to deal with this stuff now, we’ve come a long way from last winter,” he said.
Meanwhile, White House trade advisor Peter Navarro CNN said the administration is gearing up for a comeback in the disease.
“We are filling the stockpile in anticipation of a possible problem in the fall. We are doing everything we can beneath the surface, working as hard as we possibly can,″ Navarro told CNN. “You prepare — you prepare for what can possibly happen. I’m not saying it’s going to happen, but of course you prepare.”
Economic assistance
Kudlow mentioned the chance of having another fiscal stimulus package from Congress and the White House.
No decisions have been made yet about the content of the bill. It is “highly likely” that the House, Senate and White House will discuss on some form of economic assistance after the July recess, he added.
Kudlow pointed out several things Trump has considered as possible items in a future economic support bill.
“Things the president has talked about publicly. He has talked about a payroll tax holiday for the workforce, he’s occasionally talked about capital gains tax relief,” Kudlow said.
“He wants to help out with some form of tax relief. Restaurants, entertainment, athletic contests, things of that sort,” he added. “We want to help out the tourism business, which has been hurt very badly. We also want to reward people who are reemploying, who are going back to work.”
