As nations start seeing an uptick in confirmed cases of the coronavirus, the White House does not think a second wave is coming to the United States.
White House economic adviser Larry Kudlow told CNBC on Monday that there is unlikely to be a widespread shutdown across the country, despite COVID-19 increases in more than a dozen states.
He told the business news network:
“There are some hotspots. We’re on it. We know how to deal with this stuff now. It’s come a long way since last winter and there is no second wave coming,” the veteran financial guru and former Ronald Reagan adviser said.
“I really think it’s a pretty good situation. Actually, I think nationwide the positivity rate is still quite low, well under ten percent.”
South Korea is the latest country to declare a second wave after a national holiday triggered a spike in cases. Health authorities predict that cases could be in the hundreds soon.
The World Health Organization (WHO) stated that the pandemic is worsening after the official toll of cases topped 8.8 million. It also confirmed that the globe experienced the largest single-day jump in cases in two months with 180,000 cases.
It should be interesting to watch global financial markets respond over the coming months.
Will the Federal Reserve come to the rescue again?
Perhaps nothing will ever be the same again until a vaccine is developed.
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