Kudlow expects at least 20% economic growth in second half of 2020
White House economic adviser predicts 'big bank year' in 2021
White House economic adviser Larry Kudlow said Thursday he expects between 20% and 30% growth in the third and fourth quarters of 2020.
"Twenty-percent-plus growth in the third and fourth quarters. You can score that," Kudlow said in an interview with FOX Business' "Varney & Co." "We're going to have a big bang year next year when the president puts in his free-market reward success policy."
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He also expects the U.S. to show a V-shaped economic recovery despite concerns that new spikes in coronavirus cases throughout June and July might make that prospect less likely.
People are seen drinking and eating at a restaurant. (Photo by Preston Ehrler/SOPA Images/LightRocket via Getty Images)
Kudlow has been consistent in his belief that such a recovery trend is still possible for the country, despite concerns from bankers who predicted a slower, U-shaped recovery in July.
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He added that Americans "created over 9 million jobs...in the last three months," and that he thinks the U.S. is headed "for [a] strong, V-shaped recovery" from the COVID-19 pandemic.
The economic adviser mentioned the housing, auto and retail as examples of thriving, post-pandemic U.S. industries.
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Another 1.1 million Americans filed for unemployment last week, bringing the total number of claims since COVID-19 came to the U.S. to 57.4 million — more than a third of the U.S. labor force, the Labor Department said on Thursday.
Kudlow said stimulus talks remain "rather stalled."