White House economic adviser Larry Kudlow on Thursday said the U.S. economy is not going to shut down again amid a resurgence of coronavirus cases across some southern and western states.
“The economy is not going to be closed down again,” Mr. Kudlow told reporters near the White House. “There may be certain places where there is - that’s up to the local authorities. I don’t deny that.”
“We will not shut the economy down - we’re not getting that advice from the health people,” he said.
He said there are roughly half a dozen states that have “massive declines” in case rates.
“The fatality rate continues to fall,” he said.
The U.S. saw its highest single-day total of coronavirus cases on Wednesday. New York, New Jersey, and Connecticut are now requiring travelers from a handful of hard-hit states to self-quarantine for two weeks.
Another 1.48 million Americans filed for unemployment last week, the Labor Department reported Thursday, marking the 12th consecutive weekly decline.
The Commerce Department also confirmed that the U.S. economy shrank at an annualized rate of 5% in the first quarter.
Mr. Kudlow acknowledged the struggle, but said he was still in the camp that’s forecasting a quick, “v-shaped” economic recovery as states relax their coronavirus-related lockdowns.
“We’re still looking for a strong second-half rebound - 20% percent-plus [growth],” he said.