Larry Kudlow: If Powell Doesn’t Endorse Major Rate Cuts, He Will Have a Massive Revolt on His Hands

EXCERPT:

KUDLOW: “The whole center of gravity changes with Professor Miran, and if Powell doesn’t endorse major rate cuts, he will have a massive revolt on his hands. A policy revolt, by the way, from both Trump and non-Trump appointees. Powell’s already jeopardized Fed independence with his erratic behavior. He missed inflation, then rapid fire rate hikes, and all kinds of politically correct debanking and DEI and ESG climate nonsense. Then politicizing the Kamala Harris pre-election rate cut. Now politicizing high rates under Trump. You know, Mohamed El-Erian on this show has been right. Powell should resign in order to preserve Fed independence. But I digress. The key point is inflation remains low. This sets the stage for an easier Fed, and an entirely new group will be taking over before long. Can’t come soon enough for my taste.”