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4/29/2020, 5:16 PM (Source: TeleTrader)
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Kudlow: US economy to sink further in Q2, snap back in H2

White House top economic adviser Larry Kudlow said on Wednesday that the country's economy will "sink further" in the second quarter due to the coronavirus pandemic, but noted he expects a "snapback" in the second half of the year.

Speaking to Fox Business, Kudlow noted the current crisis is a "temporary problem" and claimed the situation will start to improve soon since the virus curve is flattening. He also praised positive results from remdesivir trials, as well as Oxford University's progress towards developing a vaccine, noting such efforts will help open the economy.

According to the White House aide, liquidity and cash phase policies will also help the US economy rebound after the pandemic eases.

Breaking the News / NP