Jim Young | Reuters
White House economic adviser Larry Kudlow addresses reporters during a press briefing at the White House in Washington, January 28, 2019.
Top White House economic advisor Larry Kudlow wants the Federal Reserve to “immediately” cut interest rates by 50 basis points.
Donald Trump’s Director of the National Economic Council follow the central bank’s decision to hold off on raising rates last week. The Fed also suggested at its most recent meeting that a hike in borrowing costs may not be needed for the rest of the year.
Though Fed Chairman Jerome Powell highlighted slowdowns in overseas economic growth, the Fed did not indicate at its March meeting that rate cuts would be necessary.
Kudlow is scheuduled to appear on CNBC’s “Power Lunch” at 2:30 p.m. ET.
This story is developing. Please check back for updates.
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