Kudlow: US economy needs to reopen ‘as rapidly as possible’ but in a ‘safe way’
National Economic Council Director Larry Kudlow discusses U.S. economic recovery from the coronavirus, reopening America and U.S.-China relations.
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White House chief economic adviser Larry Kudlow said Tuesday that President Trump wants to see the U.S. economy reopen as fast as possible from the coronavirus lockdown, but stressed that stay-at-home guidelines need to be rolled back in a "safe way."
"The president has certainly noted it, and he wants to see the economy reopen as rapidly as possible, but it's got to be done in a safe way," Kudlow told FOX Business' Stuart Varney. "It's hard for me to make a judgment."
Kudlow's comments come on the heels of a Wall Street Journal editorial that found states opening most slowly are big states run by Democrats that represent roughly one-third of the nation's economy.
It's been close to 10 weeks since the Democratic governors of California, New York, New Jersey and Illinois ordered all nonessential businesses in their states to close to mitigate the spread of COVID-19. As a result of the severe restrictions, job losses in these states have been especially severe.
Kudlow said he's spoken with New York Gov. Andrew Cuomo and New Jersey Gov. Phil Murphy, both Democrats, about their economies reopening. New York is the epicenter of the coronavirus outbreak in the U.S.
"The level of cooperation has been good. And that's very positive. And they've acknowledged that," he said. "So yeah, I'd like to see them open up as fast as possible, but it's gotta be done safely."
Nearly two-thirds of leisure and hospitality jobs in New York and New Jersey and about half in California and Illinois disappeared between February and April, the Journal found, compared to about 43 percent in Florida (one of the first states to lock down and among the first to reopen).
Similarly, four percent of construction workers in Florida lost their jobs compared to 41 percent in New York, 27 percent in New Jersey, 17 percent in California and 11 percent in Illinois.
This is a developing story. Please check back for updates.
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