Nothing in the latest economic data provides a justification for the Federal Reserve to cut interest rates after its March meeting, Breitbart Economics Editor John Carney told Fox Business host Larry Kudlow in a Wednesday interview.
Kudlow noted that the economic data clearly shows that the central bank’s tightening has not slowed inflation, which makes any move by Fed officials to cut rates appear motivated by political, rather than economic, considerations.
“Other than goosing the economy to reelect Joe Biden—which is a very cynical and very depraved idea for the Federal Reserve which is supposed to be independent—there is no reason to cut interest rates period right now,” Kudlow said, adding, “There is no recession. There is no jump in unemployment. Inflation numbers are way above their targets.”
“There’s no catalyst for a rate cut right now,” Carney…
