The White House's chief economic advisor, Larry Kudlow, congratulated Representative Alexandria Ocasio-Cortez on Thursday for her questions to Federal Reserve Chairman Jerome Powell at a hearing in the House.
Addressing "Fox & Friends," the director of the National Economic Council pointed out that it was Ocasio-Cortez who had questioned Powell about the Phillips curve, which theorizes that when the unemployment rate drops wages are rising and inflation is accelerating.
Ocasio-Cortez told Powell that the theory "no longer describes what is happening in today's economy," said the president.
"It's Mrs. AOC who asked her about the Phillips curve.Why is growing growth and employment and low unemployment rates harmful? Why does this cause inflation and rates?" • Higher interest? And Jay Powell said: "You're right." Not worked for decades. "Now, I have to give her good grades." She pulled her out of the chair. "said Kudlow.
AOC PUSHES IN PELOSI, SAYS THAT THE SPEAKER OF THE HOUSE SAYS PROGRESSIVE & # 39; PUZZLING & # 39;
"By the way, that's my position," continued Kudlow. "This has been the position of the president.Strong growth does not cause inflation and higher interest rates.It appears that the Fed will cut rates."
Mr. Kudlow said that "in life, no one is really good or bad" and proposed a meeting with Ocasio-Cortez to discuss the benefits of the supply-side economy.
"I have to make fun of Mrs AOC, she sort of nailed the problem," he concluded.
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Kudlow then approved a New York Times assessment that the Fed should lower interest rates. He said that a "booming" report on jobs had been released on Friday and was part of a "strong cycle of prosperity thanks to growth-friendly policies in the areas of taxation, regulation, reform of trade, energy, etc. ".
"There is no way to stop it," he said, adding that the blue-collar workers were taking advantage of the boom and that he thought the Phillips curve theory belonged to him. to a "crypt".
Powell said Wednesday during a testimony before Congress that the June job report, stronger than expected, would not change his view of the economy or interest rates .