Appearing on Fox News on Monday, former Trump economic adviser Larry Kudlow lashed out at Democrats for attempting to raise the national minimum wage in the next COVID-19 relief bill, insisting it has “nothing to do” with the pandemic. He also suggested that Americans do not need COVID-19 relief payments because they will use them to buy stocks.
Kudlow argued that sending out stimulus checks and increasing the minimum wage would hurt minorities.
“You know who that’s going to hurt the most? That’s going to hurt African-Americans, that’s going to hurt Hispanics, other minority groups,” Kudlow said in his first interview on Fox News since becoming one of the network’s employees. “It’s going to hurt the poorest part of the workforce.”
The former economic adviser went on to claim that the U.S. is not facing an economic crisis.
“We are still in a V-shaped recovery,” he insisted. “The economy is very strong. And I read about this economic crisis. I don’t believe it. And I can prove to you that it’s not there.”
Fox News host Dana Perino pointed out that economic hardships are “acute for some people.”
But Kudlow worried that so-called stimulus checks would be used to buy “penny stocks,” a reference to the recent purchase of GameStop stocks by small investors.
“I’m OK with strictly targeted funding, particularly for health vaccinations and school openings,” he opined. “I’m not OK with spending stimulus checks, sending out and spending stimulus checks on one penny or two penny stocks, which is what’s been happening with this incredible story of GameStop and some of these penny stocks. That’s so silly.”
“Giving out stimulus checks so people can buy penny stocks, not fine,” Kudlow added. “Not good.”
Watch the video below via Fox News.