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."
Rep. Kevin McCarthy (R-Calif. 20th District) gained some momentum on Friday afternoon in his bid to become the House speaker, flipping more than a dozen votes in his favor.
The United Nations' global index for tracking food prices fell 1.9 percent in December after hitting an all-time high in 2022 amid drought, war, pandemic, and supply chain challenges.
The U.S. Federal Trade Commission (FTC) has proposed a rule that would ban the practice of companies forcing workers to sign non-compete clauses in their contracts.
Just ahead of the second anniversary of the January 6 insurrection, the FBI announced a $500,000 reward for information leading to the arrest of the Capitol Hill pipe bomber.
