Kudlow: Dow still up significantly, 40% since election

Politics 10/11/2018, 4:07 PM
Kudlow: Dow still up significantly, 40% since election

White House economic adviser Larry Kudlow said on Thursday that the Dow Jones Industrial Average is "still up significantly," adding that the index marked a 40% growth since Donald Trump was elected into the White House. Kudlow pointed out, during his interview with CNBC, that the recent economic developments are result of low tax rates on individuals and businesses and deregulation, calling the reform "new Trump economy," adding that "what we're seeing is transition" and that "new economy is taking over."

Kudlow said the economic numbers are "superb" and that "everything looks as good it's looked in years." He also pointed out that the Federal Reserve's decision to raise the interest rates was the institution's independent decision and that the president is not "second guessing" the Fed. When asked to give more insight about Trump's comments about Fed, Kudlow said "the president has his own views."

The Dow Jones Industrial Average closed more than 800 points lower on Wednesday, marking the steepest decline since February. The index was in the red 0.08% at 4:17 pm CET.

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