Economics
Kudlow Bucks Tradition in Urging Fed to Hike Rates ‘Very Slowly’
- Says he hopes Fed understands faster growth isn’t inflationary
- Notes Fed under ‘new management’ in reference to Trump picks
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President Donald Trump’s top economic adviser urged the Federal Reserve to raise interest rates “very slowly,” ignoring the practice from preceding administrations of avoiding comments on monetary policy out of respect for the U.S. central bank’s independence.
“My hope is that the Fed, under its new management, understands that more people working and faster economic growth, do not cause inflation,” Larry Kudlow, director of the White House National Economic Council, told Fox Business Network on Friday, shortly before fresh data showed inflation pushing a bit above the Fed’s 2 percent target.