White House Economic Adviser Larry Kudlow says the recent news on unemployment is bad, but warns it's going to get worse.
Kudlow said on Fox News this morning that the forecast for the coming weeks is terrible.
However, he said he's hopeful for a quick recovery once the COVID-19 coronavirus is defeated. The government reported more than 700-thousand people lost their job last month.
Those numbers don't include the 10-million who have filed for unemployment benefits in the past two weeks.
Kudlow said the small business loan program that starts this week should give a lifeline as most of America is in lockdown. He said banks were in on the discussions for how to make the program work.
Kudlow expects the U.S. economy to bounce back after the coronavirus is defeated.
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