Larry Kudlow, director of the National Economic Council, called the coronavirus crash on Wall Street a buying opportunity.
During a gaggle with reporters on the White House driveway, he called the huge stock decline “very tough.”
But he also called it a buying opportunity for investors.
According to the latest White House pool report, Kudlow said:
“This market decline’s tough. Very tough. My own view, right or wrong, better or worse, I’ve always advocated long-term investing for myself and my family and friends. … To me, when you see these big dips, these big drops, they’re buying opportunities if you’re a long-term investor.”
He also aired support for a potential policy that investors are interested in, writing off expenses of companies that would move from China back to the United States.
Said the report: “He said one idea that he likes is 100% immediate write off of expenses like structures, equipment, R&D and intellectual property. ‘That would pay for the moving expenses of American companies based in China. Right there, that would pay for their moving expenses.’”
Kudlow said the idea isn’t a written plan yet. “I’m tossing it out as something we’re thinking about. I’m not here to form – the president hasn’t signed off on it. It’s something worth thinking about,” he said.
