WH adviser Kudlow: US economy is entering a self-sustaining recovery

Economic data suggests that only "targeted money" is needed for the economy, White House economic adviser Larry Kudlow told Fox Business on Wednesday.

"I think the US economy is entering a self-sustaining recovery," Kudlow added, as reported by Reuters. "Trump administration is not opposed to some federal assistance to states, localities, particularly if used to reopen schools, businesses."

Market reaction

The market sentiment remains upbeat after these comments and the S&P 500 Index was last seen gaining 1.32% on a daily basis at 3,377.