White House economic adviser Larry Kudlow on Thursday took a shot at members of the Federal Reserve board as part of the “deep state.”
“I don’t want to get into a lot of Fed bashing,” Kudlow told CNBC in an interview from the White House lawn. “They do the best they can. Their models are highly flawed. The ‘deep state’ board staff, of course, has not been helpful — oops, did I say that?”
Kudlow’s comments echo the Trump administration’s frequent attacks on the Fed and its chairman, Jerome Powell, over interest rates amid trade tensions with China and other countries.
Kudlow sounds hammered to me.