'I want to note in the hearings yesterday with Fed Chairman Jay Powell, it was Ms. AOC asked him about the Phillips Curve,' Larry Kudlow told Fox News.
President Donald Trump's top economic adviser Larry Kudlow had high praise for progressive Democratic Representative Alexandria Ocasio-Cortez on Thursday, saying she"kind of nailed" a question she asked Federal Reserve Chair Jerome Powell during his testimony in Congress this week.
This observation appeared to impress Kudlow."I want to note in the hearings yesterday with Fed Chairman Jay Powell, it was Ms. AOC asked him about the Phillips Curve. Why is rising growth and employment and low unemployment bad? Why does that cause inflation and higher interest rates?" he remarked Thursday."And Jay Powell said, 'Well you're right. That thing hasn't worked in decades.' Now, I got to give her high marks for that.
"Ms. AOC kind of nailed that," Kudlow told Fox News, adding that he hoped to meet with Ocasio-Cortez, who represents New York, and discuss supply-side economics in the near future. While the first-term congresswoman — who has been regularly criticized by right-wing politicians and pundits — and Kudlow may agree in their assessment that the Phillips Curve theory does not work, they're views diverge greatly on numerous other aspects of economic policy.— or possibly even higher — minimum wage. The Trump administration believes raising the federal minimum wage, which has not increased in just over a decade, would have negative economic consequences.
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