April 27, 2020 / 6:06 PM / a month ago

No 'V-shaped' recovery for U.S. economy likely without more stimulus: White House adviser

WASHINGTON (Reuters) - The U.S. economy needs another, fourth stimulus bill that could push it to take off again in what is commonly called a “V-shaped recovery,” one of the top White House advisers charged with blunting economic damage from the global coronavirus pandemic said on Monday.

“We’re going to probably need another phase of stimulus of some sort. We’ve built a bridge to the other side of this crisis we believe and it looks like we’re getting close to opening up in many places around the country. With that, we have to think about what’s it going to take to make sure we go back to thriving,” White House economic adviser Kevin Hassett said in a Fox News Channel interview.

“And I don’t think that absent another round of stimulus that it’s very likely that you would see a V-shape,” he added.

Reporting by Lisa Lambert; Editing by Dan Grebler

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