White House economic adviser Larry Kudlow predicted, as expected, significant increases in unemployment numbers ahead of Thursday’s jobs report.
“It’s going to be a very large increase in the weekly unemployment,” he said, adding that he was not at liberty to say what the numbers will be.
“That’ll come out at 8:30 a.m. tomorrow but it’s going to be a very big increase. Everybody in the market knows that,” he said during an appearance on Fox News.
He said the House will pass the stimulus bill: “Yes the House will. They’re on board.”
Kudlow went on to explain how the package will add up to “$6 trillion” through the Federal Reserve.
“Well this whole package is $2 trillion in direct assistance and on top of that, we are giving the Federal Reserve the resources to put up as much as $4 trillion to stabilize financial markets and back up loan guarantees and help some distressed industries. This is all on a short-term basis, cause this is going to be weeks and months, not years. So when you add the two together, you’re looking at $6 trillion package," he said.