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Photo by Nicholas Kamm/AFP via Getty Images.

White House economic adviser Larry Kudlow on Friday told Axios that he wants the Federal Reserve to "immediately" cut interest rates by 50 basis points.

Why it matters: This mirrors comments by Stephen Moore, who President Trump is expected to nominate to the Fed's board, but is the first time it has been said publicly by a White House official.

The Federal Reserve recently paused plans to hike interest rates later this year, but didn't say it planned to make cuts.

Kudlow, however, "would love to see" such a downward move, adding that the central bank shouldn't have ever set overnight interest rates past 2%.

  • They currently are at 2.25%–2.50%, but a 50 basis point cut would put such rates below 2%.

Go deeper

Twitter labels tweet from RT implying voter fraud in U.S. elections

Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Twitter on Thursday labeled a tweet from Russian state media outlet RT (formerly Russia Today) that included a video implying widespread voter fraud is plaguing, and potentially delegitimizing, the U.S. election.

Why it matters: It's the first time Twitter has labeled RT's account with a civic integrity label, or a designation used to highlight efforts to manipulate or interfere in elections or other civic processes.

1 hour ago - Health

U.S. tops 88,000 COVID-19 cases, setting new single-day record

Expand chart
Data: COVID Tracking Project; Chart: Axios Visuals

The United States reported 88,452 new coronavirus cases on Thursday, setting a single-day record, according to data from the COVID Tracking Project.

The big picture: The country confirmed 1,049 additional deaths due to the virus, and there are over 46,000 people currently being hospitalized, suggesting the U.S. is experiencing a third wave heading into the winter months.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day.
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. Sports: MLB to investigate Dodgers player who joined celebration after positive COVID test.
  5. 🎧Podcast: The vaccine race turns toward nationalism.