White House economic advisor Larry Kudlow said Monday that a “second wave” of coronavirus cases isn’t coming and that lawmakers will likely develop another stimulus package to support the economy by the end of next month.
Asked by CNBC’s Becky Quick how he’s thinking about resurgences of Covid-19 cases in select states across the country, Kudlow said he isn’t too concerned.
“There is no second wave coming. It’s just hotspots. They send in CDC teams, we’ve got the testing procedures, we’ve got the diagnostics, we’ve got the PPE. And so I really think it’s a pretty good situation,” said Kudlow, the director of the National Economic Council and chief advisor to President Donald Trump.
“Actually, I think nationwide the positivity rate is still quite low, well under 10%,” Kudlow added.
His comments to “Squawk Box” came after the U.S. reported more than 30,000 new coronavirus cases on Friday and Saturday, the highest daily totals since May 1, per Johns Hopkins University data. New cases are rising in states in the South, West and Midwest, including Florida and South Carolina, which both last week notched their third consecutive day breaking single-day records.
Health officials have warned that upswings in new cases