Larry Kudlow Preaches Calm Amid Latest Dow Plunge: ‘Great Opportunity to Buy’
Director of the National Economic Council and President Donald Trump economic advisor Larry Kudlow preached calm Monday to investors during an interview with Fox Business host Stuart Varney.
Kudlow encouraged investment in the markets – billing the most recent Dow plunge as an “opportunity to buy.”
“You’ll do whatever it takes?” asks Varney referring to the Trump administration taking every possible move to minimize the economic impact of the coronavirus.
Kudlow responded, “That’s correct. That’s exactly right.”
“Look, the president said, I don’t know, a week or so ago that we will use whatever powers there are, whatever powers there are from the federal government and the Executive Branch and the Legislative Branch.”
“And I think — I think Steven Mnuchin said yesterday that actually we might use some powers there aren’t. In other words, we will reach for every available way to mitigate and stem, and undergird both the health side and the economic side, absolutely,” Kudlow stated.
Kudlow argued against the idea that the Trump administration hasn’t done enough to prevent the bottom from falling out on the economy.
“[P]eople are telling me you haven’t done anything fiscally, and it’s just not the case,” Kudlow stated. “As I say, there’s about $400 billion worth, again, small businesses and unpaid leave, deferring interest, and no penalty-free deferred — for tax payments in both individual and corporate, deferring interest on student loans, purchasing oil to stabilize the energy markets.”
“Whatever it takes, we are prepared to do,” Kudlow added.
The Fox Business host then asked Kudlow, “Do you have a sense that we’re pretty close to the bottom?”
The White House economic advisor moved to encourage investors to buy now.
“I don’t want to make a prediction on it. It’s too hard. I will say what I’ve said and what Steven Mnuchin has said and … Warren Buffett has said. You see these tremendous corrections like this. For long-term investors, I think it affords a great opportunity to buy. You’re investing in America for the long run,” Kudlow stated.
Kudlow concluded, “I’ll buy America in the long-run anytime.”
Watch above, via Fox Business Network.
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