Sunday, April 5, 2020

We're gonna be alright"



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The U.S. economy is suffering through a painful period, but the damage caused by the COVID-19 pandemic will be temporary, stressed top Trump economic adviser Larry Kudlow. ⁣ ⁣“We are suffering through a very painful, very difficult economic contraction,” Kudlow, head of the National Economic Council, told FOX Business’ Stuart Varney on Friday. “That's the way I look at it. It's going to be temporary, but it's going to be very difficult.” ⁣ ⁣While Kudlow doesn’t see the situation improving immediately, he says conditions may get better in the next four to eight weeks. ⁣ ⁣Friday's dismal report ended a streak of monthly job growth that had been in place since September 2010. Last month, the U.S. economy added 273,000 jobs as the unemployment rate dipped to a half-century low of 3.5 percent. ⁣ ⁣"This is not going to last throughout the year," Kudlow said. "We will see a very strong economic recovery when this has played itself out."

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Queen Elizabeth II gave a rare address to the nation Sunday, aiming to lift the spirits of her people in the United Kingdom and offering hope to her country as it faces the devastating coronavirus pandemic. The reigning monarch acknowledged the suffering that many families have endured because of the COVID-19 crisis, which has infected more than 42,000 people in the U.K. and killed at least 4,313 of them, according to researchers. “I am speaking to you at what I know is an increasingly challenging time,” Elizabeth shared. “A time of disruption in the life of our country; a disruption that has brought grief to some, financial difficulties to many and enormous changes to the daily lives of us all.”

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