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Larry Kudlow Calls for ‘Completely Different Fed’ After Central Bank Finally Lowers Interest Rates
Economist Larry Kudlow told Fox Business Wednesday that the Federal Reserve needs a complete overhaul.
The Federal Reserve cut interest rates by a quarter-point Wednesday after a two-day meeting, responding to mounting pressure from President Donald Trump to slash rates more aggressively. During a segment on “The Big Money Show,” Kudlow said the Federal Reserve had lost control of its mission and credibility, adding the Federal Reserve needs to be overhauled from top to bottom.
“We need a completely different Fed. We need, from top to bottom,” Kudlow said. “Monetary policy, regulatory policy, their budget, their budget is running up, what did I see? A 300% rate in the last few years on the J-PAL.”
Kudlow blasted the Fed’s “extraterrestrial” monetary experiments and said they have delivered neither sound money nor a stable dollar.
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