Kudlow says 'the worst is nearly over' as unemployment tops 30 million

Larry Kudlow said Friday that even though the second quarter of fiscal year 2020 will be worse than the first, he believes the 'worst is nearly over' of economic depressionfrom coronavirus.

'That gives me hope that working cooperatively we can get through this. I believe – yes, I am an optimist, always – I believe we can get through this. I believe the worst is nearly over. I hope and pray that that is the case. And I think as this infection rate comes down, it's an omen that America is not far from getting to the other side,' Kudlow told CNBC in an interview Friday morning.

President Donald Trump's top economic adviser also admitted that the economy will continue to suffer as the pandemic enters another month.

'You probably saw in the GDP, a 13 per cent saving rate in the first quarter. That's a remarkable number, that just shows you there's pent up demand up there. The second quarter's going to be worse numbers, no question about it,' Kudlow said.

More