"The stock market is presaging an upturn in the economy," he said in an interview on CNBC, citing the recent market rally and a variety of indicators he said were green shoots of the economy.
Kudlow, speaking on Fox News Channel, also said he does not think Congress will approve another $600 per week in extra jobless benefits to laid-off workers in a future coronavirus relief legislation.
Even when people in the United States return to work and school, they will likely have to stay home when they have signs of sickness, face more widespread and ongoing testing and submit to routine temperature taking, he told Politico in an interview.
"We have an enormous fiscal plan. It's at least $800 billion and maybe more," Kudlow told reporters, totaling up actions already taken and tacking on Trump's hoped-for tax relief.
"It's not a catastrophe. It's not a disaster," Kudlow said, adding later: "We've been through this before and I just think the impact is minimal."
Under the trade agreement announced last week, Washington will reduce some tariffs on Chinese imports in exchange for Chinese purchases of agricultural, manufactured and energy products increasing by about $20 billion over the next two years.
'There's no arbitrary deadline here ... but that fact remains December 15 is a very important date with respect to a no go or go on tariffs,' he told CNBC.
China's commerce ministry said earlier this week that high-level trade talks between the two countries would take place in early October in Washington.
Larry Kudlow, the top White House economic advisor, sought to quell speculation that Washington would seek to nationalise ultrafast fifth-generation networks for national security reasons in view of the dominant position of Chinese firms like Huawei, which has been banned from US government contracts.
"Our Great Larry Kudlow, who has been working so hard on trade and the economy, has just suffered a heart attack. He is now in Walter Reed Medical Center," Trump said on Twitter minutes before he met with North Korean leader Kim Jong Un in Singapore.
"This president, from day one, wants to reform the world trading system. It is not working. And there is so much unfair trading and illegal trading practices,” Larry Kudlow, Director of the National Economic Council under President Donald Trump told Fox News.
Ongoing economic trouble in Europe, including a "bank jog" on Greek banks, this week could signal a third round of quantitative easing on this side of the Atlantic, two money experts said Friday on CNBC`s "The Kudlow Report."