White House economic adviser Larry Kudlow says the nation is undergoing “an across the board boom” that will mean more jobs, particularly because “inventories are at rock bottom.”
In an interview Thursday on Sinclair Broadcasting Group’s “America This Week,” Kudlow also said he wasn’t confident there would be a coronavirus stimulus package anytime soon.
“There is basically an across the board boom going on in … housing, retail sales… durable goods… automobiles,” he said, adding “inventories are rock bottom” and “that means more jobs.”
“What you got going is major business to business spending,,, and then business to consumer,” he added.
He noted the stock market last week however was “suffering” because of the COVID-19 outbreak in Europe.
“That’s weighing very heavily on the market,” he said.
Kudlow also said hopes were dimming for a coronavirus stimulus package coming out of Capitol Hill.
“We are still in negotiations with [House] Speaker [Nancy] Pelosi’s team,” he said of talks with the California lawmaker and other House Democrats . “They don’t want a compromise… ]they’re kind of stringing us along.”
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