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."
President Joe Biden grabbed a bullhorn on the picket line Tuesday and urged striking auto workers to “stick with it” in an unparalleled show of support for organized labor by a modern president.
The Supreme Court on Tuesday allowed the drawing of a new Alabama congressional map with greater representation for Black voters to proceed. The new districts also could help Democrats trying to flip control of the House of Representatives.
With a government shutdown five days away, Congress is moving into crisis mode as Speaker Kevin McCarthy faces an insurgency from hard-right Republicans eager to slash spending even if it means curtailing federal services for millions of Americans.
