FOX Business host Larry Kudlow reacts to President Biden's declining polls and weighs in on the Fed's efforts to fight inflation on 'Kudlow.'
Biden, of course, never mentioned his debt talks with Speaker Kevin McCarthy, so who knows whether there's going to be a second meeting, or another date, or they’re going to hit a drive-in move together or maybe even a serious negotiation. Right now, Biden is not serious. He doesn't look serious, doesn't sound serious and that's why his polls keep dropping.
I'm worried the Fed’s going to overdo it. The latest Fed mantra, echoed of course by Wall Street, is that the central bank has to tighten much, much more, becauseare easing. I want to say this is nonsense. For one thing, as Joe Lavorgna has pointed out, the Fed is focusing on the wrong measure of financial conditions. The recent rally in stock prices and the decline in long-term interest rates doesn't mean the Fed is failing.
It shows financial conditions for consumers are very tight, not easing. In addition, the Federal Reserve survey of bank loan standards shows a big tightening in lending standards for C&I business loans and the same for commercial real estate loans.
larry_kudlow Always focusing on getting more money from the achievers vs. Streamlining the mediocre.
larry_kudlow They're blaming Wait Staff.
larry_kudlow I agree but they can’t be buying the government .. it appears they have from the congressional testimony