Kudlow: Tech Stocks Still 'Ain't Bad', Even With Correction
*By Carlo Versano*
The White House dispatched chief economic adviser Larry Kudlow to speak to reporters Thursday morning as markets turned deep red in a day marked by volatility and which added to the sell-off in tech stocks.
Kudlow told Cheddar's J.D. Durkin the administration remains bullish on the economy ー and he noted that the tech sector, in particular, was up 50 percent since President Trump's election, "even with this correction."
"That ain't bad," he said.
Kudlow wouldn't disclose whether he advises Trump to speak less critically of the actions of the Federal Reserve ー for which presidents typically reserve a church-and-state type attitude. Trump, for his part, called the Fed "loco" on Wednesday for raising interest rates.
Kudlow told Cheddar: "The advice I give to the president is the advice I give to the president. It's entirely private."
Former President Donald Trump answered questions for nearly seven hours Thursday during his second deposition in a legal battle with New York's attorney general over his company's business practices, reversing an earlier decision to invoke his Fifth Amendment protection against self-incrimination and remain silent.
Republican Gov. Ron DeSantis has signed into law a bill approved by the Republican-dominated Florida Legislature to ban abortions after six weeks of pregnancy.
A federal appeals court has ruled that the abortion pill mifepristone can still be used for now but reduced the period of pregnancy when the drug can be taken and said it could not be dispensed by mail.
The second of two Black Democrats expelled from the Republican-led Tennessee House will return to the Legislature after a Memphis commission voted to reinstate him Wednesday.
Some abortion clinics are fielding lots of calls from patients since a court ruling last Friday threatened the availability of a main drug used in medication abortion, mifepristone.
The Biden administration released an environmental analysis Tuesday that outlined two ways that seven Western states and tribes reliant on the over-tapped Colorado River could cut their use, but declined to publicly take a side on the best option.
