Larry Kudlow at CPAC: Coronavirus Won’t ‘Sink the American Economy’ But Socialism Could

White House economic adviser Larry Kudlow and Ivanka Trump spoke together at CPAC Friday, and Kudlow addressed concerns about coronavirus in his opening remarks.

Earlier this week Kudlow assured that coronavirus is “contained” in the U.S. (“I won’t say airtight, but pretty close to airtight”) and that he doesn’t expect to see “economic tragedy” as a result.

The economic news this week has not been terribly good though, given the huge Dow plunge, and today Fed chair Jerome Powell put out this statement:

The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.

At CPAC, Kudlow defended the Trump administration’s response on coronavirus, saying the president has taken “unprecedented and historical steps to contain the virus, protect Americans, make sure this will turn out to be a low-risk proposition.”

He continued:

So far, the numbers coming in on the economy have been quite good, including today. Business investment is up, personal income and consumer spending is up, confidence is up, all these Federal Reserve surveys are now showing supply chain breakdowns. I know the stock market is worried and fearful but, you know, if you’re a long-term investor — which is what you all should be — since I believe and Ivanka believes the country is in good safe hands right now, you might think about buying the dip… The virus is not going to sink the American economy. What is or could sink the American economy is the socialism coming from our friends on the other side of the aisle.

You can watch above, via NBC.