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."
The Biden administration on Thursday released a plan for improving the nation's cybersecurity by shifting the burden from individuals, small businesses, and local governments to federal agencies and major tech providers.
COVID-19's origins remain hazy. Three years after the start of the pandemic, it's still unclear whether the coronavirus that causes the disease leaked from a lab or spread to humans from an animal.
Paul Vallas and Brandon Johnson will meet in a runoff to be the next mayor of Chicago after voters on Tuesday denied incumbent Lori Lightfoot a second term, issuing a rebuke to a leader who made history as head of the nation’s third-largest city.
Chicago Mayor Lori Lightfoot has lost her bid for a second term. None of the nine candidates in Tuesday’s election won more than 50% of the vote, so Paul Vallas and Brandon Johnson will meet in a runoff to succeed her.
A large cross-section of Americans is at risk of falling below the poverty line as the program that provided more than 32 million people with extra SNAP benefits during the pandemic is set to end. Families received at least $95 extra per month to spend on food.
Conservative justices in the Supreme Court’s majority seem likely to sink President Joe Biden’s plan to wipe away or reduce student loans held by millions of Americans.
Protesters in favor of student loan relief gathered outside the Supreme Court on Tuesday morning, demanding that the top jurists side with President Biden.
