Top White House economic adviser Larry Kudlow on Sunday defended President Donald Trump’s selection of Herman Cain and Stephen Moore for the Federal Reserve Board, saying the picks are a matter of “world view,” not politics.
In an interview on CNN’s “State of the Union,” Kudlow said the Trump administration wants “to grow the economy to its maximum…we're not interfering with Fed independence.”
“President Trump has every right to put people on the Federal Reserve Board with a different point of view,” he added, noting Trump’s repeated criticism of the Fed raising interest rates as hampering economic growth.
“You don't have to rush pell mell into tightened policy and raising rates just because the economy is growing,” he said. “That's President Trump's key point. …He said if we had lower rates, the economy could take off like a ‘rocket ship’ by which he means 4%, 4.5%.
“I happen to think that's a terrific point. …He wants people on the Fed who share his philosophy. This is not a political issue. It's an issue on how do you see the world.”
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