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The Trump administration believes that House Speaker Nancy Pelosi is not going to compromise on key issues in coronavirus relief talks, White House economic adviser Larry Kudlow told CNBC on Thursday, as reported by Reuters.

Key takeaways

“US should regain all economic output that was lost during coronavirus pandemic.”

“Trump administration does not think state shutdowns are necessary.”

“We don’t think US recovery depends on the coronavirus relief package.”

“Targeted economic relief could have helped a lot and it’s not going to happen.”

Market reaction

The S&P 500 Index edged lower after these comments and was last seen losing 0.15% on the day at 3,265.