White House Economic adviser Larry Kudlow, when asked about the increase in coronavirus cases across the country and its economic impact, said Thursday that “there will be some shutdowns in individual places or certain stores,” but that he believes the country as a whole will not shutdown again.
He said that while the US has seen an increase in cases nationally of “just a little bit,” multiple states have seen a decrease in cases.
However, data shows, coronavirus cases continue to surge in the U.S. as some states are reporting record numbers, including the country's three most populous states.
Kudlow was also pleased the new jobless claims were down for the 12th straight week, and said he still believes the economy will have a strong V shaped recovery.
Conditions in the US labor market are undoubtedly improving, but as CNN's business team noted this morning the road to recovery is long and littered with obstacles.
Last week's new jobless claims brought the total claims filed since the mid-March to 47.3 million.
Kudlow said he believes the unemployment rate could fall below 10% by year end.