President Donald Trump’s top economic adviser, Larry Kudlow, said he believes there will be a peaceful transfer of power as former Vice President Joe Biden appears to have taken the lead in Pennsylvania and Georgia.
“I think there will be a peaceful transfer of power,” Kudlow said during a televised interview on Friday after he was asked whether that was necessary to keep the stock market stable.
“I think the markets have been remarkably calm and resilient and actually rather bullish these past six months… This is a great country, this is the greatest democracy in the world, and we abide by the rule of law and so will this President,” he remarked. “There’s some things to clean up here, and again, it’s not my area of expertise, I’ll leave that discussion to the campaign. But yes, we will continue peacefully as we always do.”
Kudlow noted that the United States “is the greatest democracy” that abides “by the rule of law.”
It comes as President Trump suggested there may be a long and protracted legal fight ahead, alleging irregularities and fraud during Tuesday’s election. His team has filed a series of lawsuits in several states including Pennsylvania, Nevada, Michigan, and Georgia.
Georgia’s top election official, Secretary of State Brad Raffensperger, said on Friday morning that a recount will be initiated, noting the race between Trump and Biden is too close to call.
Trump cannot receive 270 electoral votes without Georgia and Pennsylvania, meaning that his chances of getting reelected will come from developments in these two states. Counting is still ongoing in Nevada, Alaska, and Arizona. GOP officials said that Trump is gaining ground in Arizona.