So, Larry Kudlow just went on live air and told Fox Business this:
"With these low inflation numbers, I think the Fed is actually looking at rate cuts."
Considering Jay Powell spoke less than 24 hours ago, and said nothing even close to this, that looks very much like a lie.
We understand that Larry's job right now is to be a fluffer for the stock market so that the president can maintain a mood, and that Kuddles has been brushing up against the edges of truth for months, but this is just lazy. Kuddles is a sublime practitioner of bullshit, and a master of making nonsense seem borderline logical when speaking into a TV camera. It's embarrassing to see Larry reduced to a dumb and obvious lie. We expect this from Mnuchin or Wilbur, but Larry can do better. If he can't, then maybe it's time to send him home to where he belongs: a prime table at Lutece in 1997.
Either that or put Kuddles on The Fed alongside Jim Cramer, because some love affairs should never die.