Kudlow says Fed should ‘take back’ December's interest-rate hike
White House economist Larry Kudlow told Bloomberg TV on Friday the Federal Reserve should "take back" its December interest rate hike.
Commenting after the stronger-than-expected June jobs report, National Economic Council Director Kudlow said "we are still in a very strong prosperity cycle." U.S. stocks DJIA, -0.60% opened lower after the jobs report somewhat dampened expectations for a rate cut by the Fed, which meets next July 30-31. Kudlow said evidence shows that inflation is at "rock bottom" and way below the Fed's target.
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