Larry White House Economic Adviser Larry Kudlow applauds rep. Alexandria Occasio-Cortez on Thursday for his questions to Federal Reserve Chairman Jerome Powell at the hearing of the House. that Occasio-Cortez asked Powell about the Phillips curve, which theorized that with the reduction in unemployment wages increased and thus inflation accelerated.
"It was Mrs. AOC who asked him about the Phillips curve, why growth and employment and low unemployment are bad, why does this lead to inflation and higher interest rates?" Jay Powell said, "You're right. That has not worked for decades, and now I have to give her a high estimate of it, and she took it out of the chair, "Kudlow said," I'm going to call it. "" By the way, that's my position, "Koldow continued. "This was the position of the president. Strong growth does not lead to higher inflation and interest rates. It seems that the Federal Reserve will reduce their interest. "
Kudlow said that" no one in life is good or bad "and offered to meet with Occasio-Cortez to discuss the benefits of the supply economy
"Must be handed to Ms AOC. "Kudlow agreed with a rating in the New York Times that the Fed should lower interest rates," he said, the report of the "thriving "Jobs came out on Friday and is part of a" powerful cycle of prosperity because of policies to increase taxes, regulations, trade reform, energy, etc. "
He said, adding that blue collar workers are benefiting of the boom and believes that Phillips curve theory belongs to the "crypt." does not change his thinking on economics or interest rates