The Federal Reserve's independence and monetary-policy approach had a White House ally in Gary Cohn. His successor Larry Kudlow may be a different story.
“Just let it rip, for heaven's sake,” Kudlow said of economic growth in the U.S., during a more than hour-long interview Wednesday on CNBC. “The market's going to take care of itself. The whole story's going to take care of itself. The Fed's going to do what it has to do, but I hope they don't overdo it.”
That last comment was an apparent reference to the Federal Reserve's moves to raise interest rates, which it has done five times since December 2015 and is expected to do so again when it meets next week.
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