Fox’s Varney Grills Kudlow on ‘Politicizing’ the Fed: You’re Putting Your Guys on There
Fox Business’ Stuart Varney put National Economic Council director Larry Kudlow under pressure on Friday by asking why President Donald Trump is stacking the Federal Reserve with nominees blatantly friendly to the administration.
Speaking to Kudlow about whether Fed rates will soon see an increase or decrease, Varney eventually brought up the news that President Donald Trump has tapped Herman Cain and Stephen Moore to fill the vacant seats on the Federal Reserve’s board. To this point, Varney asked if Trump is “politicizing the federal reserve” by recommending his allies for the job.
Kudlow rejected that notion by arguing presidents are entitled to nominate whoever they want. He tried to divert the conversation by gushing over the Trump economy, but Varney pressed, saying “so you put your guys on to the federal reserve, you politicize the fed and the president gets his way with the Federal Reserve. It diminishes its independence.”
“I don’t buy it. We’re not trying to damage the fed’s independence,” Kudlow insisted. “I don’t know why you think this is political.”
The conversation continued with Kudlow rejecting contemporary thinking about the Fed and economic policy, and also that “I don’t think necessarily that the names that are being discussed are really going to be out of sorts with the Fed leadership.”
Watch above, via Fox Business.
Have a tip we should know? [email protected]