White House advisor Larry Kudlow says Fed should 'immediately' cut rates

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Top White House economic advisor Larry Kudlow wants the Federal Reserve to “immediately” cut interest rates by 50 basis points.

President Donald Trump’s Director of the National Economic Council said that the Fed should slash its overnight lending rate by 50 basis points.

The comments from Kudlow follow the central bank’s recent decision to hold off on raising rates last week, when it also suggested that borrowing costs may not be needed for the rest of the year.

Kudlow is scheuduled to appear on CNBC’s “Power Lunch” at 2:30 p.m. ET.

This story is developing. Please check back for updates.

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