The Federal Reserve Board might be considering cutting interest rates further, National Economic Council director Larry Kudlow told Newsmax TV.
During a sit-down at the Eisenhower Executive Office Building next to the White House with Newsmax CEO Chris Ruddy, Kudlow was asked about what's happening at the Federal Reserve on Constitution Avenue.
"I think the Fed is moving toward rate cuts," Kudlow said. "That is my view. It's true in the open market, the funds rate has traded a bit high, but I think they're moving toward rate cuts."
Fed chairman Jerome Powell raised the federal funds rate four times, by a quarter point each, in 2018, which President Donald Trump criticized for slowing down economic growth.
Last week, the 71-year-old Kudlow said it is even possible the Fed won't raise rates again "in my lifetime."
The Fed acknowledged in March it might not raise rates at all in 2019.
Find Newsmax TV on Directv 349, Xfinity 1115, Dish 216, Uverse 1220, Fios 615, Optimum 102, Spectrum (see channels), or More Info Here
© 2022 Newsmax. All rights reserved.