*By Carlo Versano*
President Trump's economic adviser Larry Kudlow slammed Democratic tax and banking proposals as un-American in an interview with Cheddar's J.D. Durkin on Thursday.
"I'm afraid some of my Democratic friends are going back to a war on business," Kudlow said. He was referring to policies gaining traction on the left, including calls to raise the marginal tax rate on the wealthy and efforts to pass new banking regulations like an updated Glass-Steagall Act.
Government controls don't work for economic freedom, Kudlow said, pointing to the Soviet Union and Venezuela as failed experiments in socialism. He suggested Democratic lawmakers "do a historical survey" and suggested some were "being mischievous." He did not elaborate on specific behaviors.
"When President Trump came into office he made it very clear through his policies and through his statements that the war on business of the prior administration was off," Kudlow said.
During the interview, Kudlow also declined to comment on the White House's position on a pending merger between T-Mobile and Sprint, following a [report](https://www.washingtonpost.com/politics/t-mobile-executives-seeking-merger-approval-booked-more-than-52-nights-at-trumps-hotel--more-than-previously-known/2019/02/06/cd6fa7e6-29ca-11e9-b011-d8500644dc98_story.html?utm_term=.32690bde7905) that T-Mobile executives booked dozens of nights of rooms at the Trump International Hotel in Washington last year as they lobbied the administration to approve the deal.
A year ago, the president slammed another mega-merger between AT&T ($T) and Time Warner as "too much concentration of power."
The T-Mobile-Sprint deal is a "complicated, regulatory, legal" issue, Kudlow said. "This is not the morning for that."
Earlier in the day, Kudlow said there was still a "pretty sizable distance to go" between the U.S. and Chinese on trade negotiators.
Those comments sent the Dow down more than 300 points.
The Supreme Court is allowing Lisa Cook to remain as a Federal Reserve governor for now.
Rep. John Moolenaar has requested an urgent briefing from the White House after Trump supported a deal giving Americans a majority stake in TikTok.
A new report finds the Department of Government Efficiency’s remaking of the federal workforce has battered the Washington job market and put more households in the metropolitan area in financial distress.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach. In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. His approach is in sharp contrast to some members of the Fed’s rate-setting committee who are pushing for faster cuts.
President Donald Trump’s efforts to reshape the American media landscape have led to the suspension of late-night comedian Jimmy Kimmel.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market. The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy. The only dissenter was Stephen Miran, the recent Trump-appointee.
After a late-night vote and last-minute ruling, the Federal Reserve began a key meeting on interest rate policy Tuesday with both a new Trump administration appointee and an official the White House has targeted for removal.
