Breitbart economics editor John Carney said Tuesday on Fox Business Network’s “Kudlow” that the latest inflation numbers meant the Federal Reserve could not potentially ease interest rates.
Anchor Larry Kudlow said, “John, let’s the games begin. How bad was this?”
Carney said, “This was real bad, not just because they were higher than expected, this was confirmation that January was not an anomaly, that inflation is going back up. We have not made any progress on inflation for eight months. Now, for the last four months, it has been creeping back up. Four months in a row of headline inflation month to month going up. This is, means the Fed cannot cut. They say they are looking for more confidence. I don’t know how you can look at these numbers and be more confident?”
He added, “I don’t think they can do it in September. If they tried to cut in September, that would be looked at as the most political cut ever. It will create backlash. They want to defend their independents. They will not cut in September. If they don’t cut in the first half, they don’t cut in the back half. Maybe they cut in November, like the week after or the day after the election.”
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