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."
Child welfare advocates filed a federal lawsuit Tuesday asking a judge to force the Biden administration to block imports of cocoa harvested by children in West Africa that can end up in America's most popular chocolate desserts and candies.
The U.S., South Korea and Japan will announce plans on how they will address concerns about North Korea's nuclear program at a gathering in Camp David.
