White House economist adviser Larry Kudlow applauded Rep. Alexandria Ocasio-Cortez Thursday for his questions at Federal Reserve Chairman Jerome Powell during a House hearing.
Speaking to "Fox & Friends," director of the National Economic Council point out that Ocasio-Cortez has asked Powell about the Phillips Curve, where the theory is the loss of unemployment, the rise in wages and thereby, the inflation release.
Ocasio-Cortez told Powell that the theory "does not describe what is happening in today's economy," and the chairman agrees.
"Ms. AOC who asked her about Phillips Curve, Why does growth and work increase and less work are bad? Jay Powell said, 'Well, that's right. worked on decades. & # 39; Now, I have to give him a high score for that. He got out of the chair, "said Kudlow.
AOC PUSHES BACK AND PELOSI, WHY THE VOTE OF THE CHILDREN OF PROGRESSIVES "[PUZZLING'
" By the way, that's my position , "continued Kudlow. "That's the position of the president. Strong growth does not bring much inflation and interest rates. It looks like the Fed will reduce their rates."
Kudlow said that "no one in life is all good or bad" and proposes a meeting with Ocasio-Cortez to discuss the benefits of supply-side economics.
"I have to give a hat off to Ms. AOC, She kind of nailed," he concluded.
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Kudlow continued to agree on a New York Times analysis that the Fed should lower rates of interest. He said a "booming" work report came on Friday and is part of a "powerful cycle of prosperity due to pro-growth policies on taxes, regulations, trade reform, energy and so on."
"There is no stopping," she says, adding that the blue tube workers benefit from the boom and believe that Phillips Curve is included in a "crypt."
Powell said Wednesday at the time the proof of Congress that the work report is stronger than expected in June does not change its economic thinking or interest rates.