White House chief economic adviser Larry Kudlow speaks to reporters about the Trump administration’s response to the financial issues surrounding the coronoavirus outbreak, at the White House in Washington, U.S. March 16, 2020. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) – White House economic adviser Larry Kudlow on Saturday said he expects the coronavirus stimulus package being negotiated by the U.S. Senate would be worth about $1.3 trillion or $1.4 trillion, clarifying comments earlier that the bill would be worth more than $2 trillion.

Kudlow initially told reporters “the package is coming in at about 10 percent of GDP.” Asked if that amounted to more than $2 trillion, Kudlow said: “That’s correct.”

Kudlow and Eric Ueland, the White House legislative liaison, later spoke to reporters and clarified the $2 trillion figure.

The $2 trillion reflects economic impact from both the prospective Senate bill and U.S. Federal Reserve action, Ueland said.

“The net impact, in combination with the amount that you’ll see pass in the next couple of days, I hope, plus what the Federal Reserve can put in on the table, in combination with what we’re doing, will be well north of $2 trillion.”

Reporting by David Morgan; Writing by Jan Wolfe; Editing by Daniel Wallis and Tom Brown

Our Standards:The Thomson Reuters Trust Principles.
source: reuters.com

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