(Reuters) - The U.S. Federal Reserve should “immediately” cut interest rates by half a percentage point, White House economic adviser Larry Kudlow told Axios on Friday.
Kudlow’s comments in an interview with Axios aligned with those of Stephen Moore, the conservative commentator whom President Donald Trump has said he plans to nominate to a seat on the Fed’s board of governors. Moore has criticized the Fed for a series of rate hikes, which the bank signaled last week had come to an end for now.
Kudlow said he “would love to see” such a downward move by the Fed, adding that the central bank shouldn’t have ever set overnight interest rates past 2 percent.
Reporting by Dan Burns;Editing by Jeffrey Benkoe