National Economic Council Director Larry Kudlow, who was appointed to President Donald Trump's coronavirus task force on Thursday, said Friday he believed the administration's handling of the response to COVID-19 would be a boon for his 2020 campaign.
“I think the way he’s handling this will have a very positive effect on his reelection campaign,” Kudlow told reporters at the White House. “I’m a longtime Trump friend and watcher and now, of course, the last couple of years I’ve been working with him — for him. I think it was one of his best news conferences I’ve ever seen him give."
Kudlow was referring to the president’s rare appearance in the White House briefing room Wednesday evening, in which he announced that Vice President Mike Pence would be leading the effort. Kudlow in the press availability also suggested Friday that Wall Street was overreacting to the risks associated with the virus.
“This is a government-wide effort, and so I think folks are going to look at that and say, you know what, he was doing his job very well. And I think therefore at the end of the day it’s going to actually help him on that,” Kudlow said.
Trump’s economic adviser downplayed economic concerns as U.S. stock markets continued to drop for the seventh day in a row amid fears as the number of confirmed cases continue to grow.
“Given what we know factually, it looks to me like the market had gone too far,” Kudlow said, referring to this week’s slide into correction territory. “I just think everybody, whether you’re an investor or whether you’re an ordinary mainstream person, people should not overreact.”
He also said that the White House wasn’t planning any, “precipitous action” like rolling back existing tariffs on China because of COVID-19.
The Democrats seeking to challenge Trump in 2020 have been broadly critical of the Trump administration’s early response to the developing situation.
“No one takes the President’s word for these things,” Biden said. “At a minimum, he exaggerates everything.”
Speaking with reporters, Kudlow said, “stay home,” he said when asked if someone asked his advice about taking a cruise or going to China.