Larry Kudlow says Fed chairman is "having a bit of a revolution"
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President Trump's top economic advisor Larry Kudlow spoke out about Federal Reserve chairman Jay Powell, in an interview with Fox Business on Wednesday:
Powell is having a bit of a revolution at the Fed. He’s throwing out the Fed models. That’s very important.— Larry Kudlow, National Economic Council Director
Why it matters: President Trump, who nominated Powell, believes the Fed is raising rates too quickly. Kudlow and others maintain that Trump's outspokenness about the Fed doesn't interfere with the central bank's independence, but this quote is puzzling. The White House has not yet responded to a request for clarification.