Trump Economy Chief Larry Kudlow Declares Coronavirus ‘Contained,’ Economy ‘Sound’ Despite Growing Outbreak and Volatile Market
Trump Economy Chief Larry Kudlow ignored the rapidly growing number of cases and deemed coronavirus “relatively contained,” on CNBC’s Squawk on the Street on Friday morning.
“I just don’t want to panic. I don’t want to panic on the economy, which looks sound. I don’t want to panic on the virus, which frankly, most Americans are not at risk. And I don’t want to panic on policy measures. Let’s try to be calm and not overreact,” Kudlow stated.
He later added, “We don’t actually know what the magnitude of the virus is going to be, although frankly so far it looks relatively contained.”
Kudlow’s advice followed an extremely volatile week on Wall Street, where the Dow’s 1,200 point surge on Wednesday was quickly wiped out by Thursday’s 976 point plunge. The consistent unrest in the economy is a response to the spreading coronavirus, and airline, cruise ship, and oil and gas stocks have all fallen this week.
Presumably attempting to stabilize the market, Kudlow later urged, “For most people, if you’re healthy, you should go to work. Go about your business. That’s our advice,” but many major U.S. companies, including Facebook and Amazon, have instead encouraged their employees to work from home.
Watch above, via CNBC.
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