Posted on 02/25/2020 6:50:40 PM PST by SeekAndFind
National Economic Council Director Larry Kudlow tried on Tuesday to assuage concerns over the cornavirus and its impact on the U.S. economy.
“We have contained this. I won’t say [it’s] airtight, but it’s pretty close to airtight,” Kudlow told CNBC’s Kelly Evans on “The Exchange.” He added that, while the outbreak is a “human tragedy,” it will likely not be an “economic tragedy.”
“There will be some stumbles. We’re looking at numbers; it’s a little iffy,” Kudlow said. “But at the moment ... there’s no supply disruptions out there yet.”
Kudlow’s comments came as the stock market tanked for a second straight day amid worries that the coronavirus outbreak would lead to a prolonged global economic slowdown.
The Dow Jones Industrial Average was more than 700 points lower Tuesday, down 2.7%. On Monday, the 30-stock average had its worst day in two years, dropping more than 1,000 points.
Investors dumped equities in favor of U.S. Treasurys, which are traditionally seen as a safe haven during volatile stretches for the stock market. The benchmark 10-year Treasury yield dropped to 1.32% to reach an all-time low. The 30-year also traded at a record low. Yields move inversely to prices.
Still, Kudlow said the U.S. is “holding up nicely,” adding, “All I can do is look at the numbers.”
(Excerpt) Read more at cnbc.com ...
in before the snowflakes
What proof does he have? He sounds like Baghdad Bob.
“Kudlow said the U.S. is “holding up nicely,”......”
So far...[and it’s very still very early]
George Soros made his fortune scaring people.
Am I the only person, who sees Kudlow as an almost perfect contrary indicator?
:)
I’ve been watching Larry Kudlow for the longest time, from his TV show at CNBC to his Saturday radio program in NYC.
He is the eternal optimist. Sometimes TOO optimistic for my taste. He only wants to invite guests on his program who speak well of the economy ( Yep, those were the Obama years ).
“Kudlow said the U.S. is “holding up nicely,”......”
So far...[and it’s still very early]
I’ve been watching Larry Kudlow for the longest time, from his TV show at CNBC to his Saturday radio program in NYC.
He is the eternal optimist. Sometimes TOO optimistic for my taste. He only wants to invite guests on his program who speak well of the economy ( Yep, those were the Obama years ).
There’s SO MANY on here when it comes to this virus.
I’m shocked.
After all the years of making fun of snowflakes...
I’ve never seen such panicking like little girls.
Wow.
I remember him from the 2000 and 2008 economic downturn, this guy is an establishment hack.
We’ve been overdue for a correction. Here it is.
Time to buy.
Then somebody tell Dr. Nancy Messionnier to shut up.
She’s contradicting the president and starting to scare people.
Is she the one who’s related to Rod Rosenstein?
The scaring is not an accident, in that case. They want to scare and destabilize people and tank the economy.
So it’s your opinion that the stock market should go up forever and any correction is a signal of Armageddon?
Yes!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.