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The US has contained the coronavirus spread and there are no supply disruptions yet amid the outbreak, White House economic adviser Larry Kudlow told CNBC on Tuesday. 

“The US can avoid a recession in the event of a global downturn,” Kudlow added. Regarding a possible response by the Federal Reserve to the coronavirus crisis, Kudlow noted that he had not heard a discussion of a rate cut publicly or privately and said that the Fed wouldn’t make a “panic move.”

USD reaction

These comments couldn’t help the greenback erase the losses it suffered against its major rivals on Tuesday. As of writing, the US Dollar Index was down 0.3% on the day at 98.98.