U.S. coronavirus stimulus to be worth 'north of USD 2 trillion' - White House aide

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 (1.7 trillion pounds).

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.”