Breitbart economics editor John Carney said Tuesday on Fox Business Network’s “Kudlow” that the latest inflation numbers mean the Federal Reserve could potentially not cut interest rates.
Anchor Larry Kudrow said, “John, let’s start the game. How bad was this?
“This was really bad. Not only was it higher than expected, it confirmed that January was not an anomaly and that inflation is rising again,” Carney said. There has been no progress on inflation for eight months. Now, over the past four months, I have been slowly recovering. The headline inflation rate has increased month-on-month for the fourth consecutive month. This means the Fed cannot lower interest rates. They say they want more confidence. I don’t know how you can look at these numbers and feel confident. ”
He added: “I don’t think we can do that in September. If we try to cut in September, it will be seen as the most political cut ever. It will create a backlash. We want to protect the faction. There will be no cuts in September. If they don’t cut it in the first half, they won’t cut it in the second half. They probably did it in November, the week after the election or the day after.”
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