White House National Economic Council Director Larry Kudlow reiterated his view that Fed can “take back” its December rate hike. Also, he urged Fed to look at low inflation data, rather than strong job data in deciding the rate cut.
Meanwhile, Kudlow also noted Trump is making “no effort” to remove Fed Chair Jerome Powell. And, “at the present time, yes he is safe”.
Separately, Powell delivered opening remarks at “Stress Testing: A Discussion and Review,” a Boston Fed research conference. But he didn’t talk about monetary policy. Focus will turn to his two-day semiannual Congressional Testimony, which starts tomorrow.
