August 2, 2019 / 2:41 PM / 4 months ago

White House adviser says Fed cut is 'step in the right direction'

White House chief economic advisor Larry Kudlow talks with reporters on the driveway outside the West Wing of the White House in Washington, U.S. August 2, 2019. REUTERS/Carlos Barria

WASHINGTON (Reuters) - White House economic adviser Larry Kudlow on Friday praised the Federal Reserve’s decision to lower interest rates this week, saying the central bank was moving in a positive direction.

“The Fed has ended its quantitative tightening. That’s a big step in the right direction,” Kudlow told reporters at the White House. “I don’t see any inflation.”

Reporting by Alexandra Alper; Writing by Makini Brice; Editing by Susan Heavey

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