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 has ended the immediate threat of a government shutdown, signing a temporary spending bill a day before much of the government was to run out of money.
A gag order that barred Donald Trump from commenting about court personnel after he disparaged a law clerk in his New York civil fraud trial was temporarily lifted Thursday by an appellate judge who raised free speech concerns.
Chinese President Xi Jinping signaled that China will send new pandas to the United States, calling them “envoys of friendship between the Chinese and American peoples.
A jury on Thursday convicted the man who broke into former U.S. House Speaker Nancy Pelosi’s San Francisco home seeking to hold her hostage and attacked her husband with a hammer of federal charges of attempted kidnapping and assault.
