White House adviser sees 'cash' phase of economic rescue winding down

FILE PHOTO: White House National Economic Council Director Larry Kudlow talks with media during a break in a meeting to wrap up work on coronavirus economic aid legislation to prevent the spread of coronavirus disease (COVID-19) in Washington, U.S., March 21, 2020. REUTERS/Mary F. Calvert

WASHINGTON (Reuters) - With the U.S. economy poised for a sharp rebound, it is time for policy to move from a “cash” rescue phase to focus on more long-term measures that can underpin growth, a top White House adviser said on Wednesday.

“I think the liquidity and cash phase is coming to an end,” National Economic Council Director Larry Kudlow told Fox Business Network when asked if a fourth coronavirus relief bill was needed.

“Now I’d like to see a more incentive-minded approach that will get this economy roaring,” he said, citing a White House wish list that includes a payroll tax holiday, small business regulatory relief, infrastructure spending and liability protection for businesses that are reopening.

Reporting by Tim Ahmann; Editing by Lisa Lambert