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White House's Kudlow: moment for 'generous' unemployment benefits has passed

Kitco News

WASHINGTON (Reuters) - White House Economic Adviser Larry Kudlow, heralding the U.S. gains in millions of jobs in June, said on Thursday Americans no longer need extra money that was tacked on to unemployment benefits to help those laid off during the coronavirus pandemic stay financially afloat.

“The shape of any kind of package is still up in the air,” Kudlow said in an interview with Bloomberg TV about a long-promised “Phase 4” coronavirus relief package, but that it would probably not include a provision adding $600 to weekly unemployment payments from previous legislation because “that moment has passed.”

“Re-employment benefits probably will help fill the bill,” he said.

Reporting by Lisa Lambert, Doina Chiacu and Tim Ahmann, Editing by Franklin Paul

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