Fox News star Larry Kudlow, former Director of the National Economic Council during the Trump Administration, casted doubt on the validity of the recently released March job numbers (up 303,000) and said the unemployment rate (3.8 percent) “is not a recessionary indicator.”
[Note: This is the first time in 50 years the U.S. unemployment rate has been below 4% for 28 months.]
Kudlow added, “If the Fed were dumb enough to ignore the actual data, and went ahead and starting cutting interest rates it would be viewed as a political attempt to juice the economy in order to reelect Joe Biden.”
Kudlow warns that Donald Trump and Republicans will pound the Federal Reserve Chairman if he cuts rates during an election year pic.twitter.com/UNOXfKugHQ
— Acyn (@Acyn) April 5, 2024
According to Kudlow, if the Fed does cut interest rates now, “Donald Trump and every Republican official would just pound the Fed into the ground.” He added, “And the Republicans would be correct to pound [Federal Reserve Chairman] Jay Powell into the sand.”
Note: In 2019, then-President Donald Trump pressured the Fed and Chairman Powell to cut interest rates, claiming the U.S. was competing with countries that had lower rates.
Trump complained about the Fed and Powell on Twitter: “The only problem we have is Jay Powell and the Fed. He’s like a golfer who can’t putt, has no touch. Big U.S. growth if he does the right thing, BIG CUT – but don’t count on him!”
former Trump official Larry Kudlow on Fox: "If the fed were to force feed a rate cut, they would be just creamed, reamed, destroyed. It would be political in order to juice the economy for Joe Biden. Mr. Trump would correctly go after the Fed big time. It would be sheer folly." pic.twitter.com/gVuAW7jjhW
— Aaron Rupar (@atrupar) April 5, 2024
Kudlow reiterated his claims about Biden’s intent and influence with the Fed on another Fox News show and warned, “If the Fed were to force-feed another rate cut, they would be just creamed, reamed, destroyed. It would be political in order to juice the economy for Joe Biden. Mr. Trump would correctly go after the Fed big time… It would be sheer folly.”
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