Kudlow: ‘Deep State’ Board Staff at the Fed ‘Has Not Been Helpful’

As he discussed the economy Thursday on CNBC’s “Squawk Box,” White House National Economic Council director Larry Kudlow described the “deep state” board staff at the Federal Reserve as having “not been helpful.”

Kudlow told host Joe Kernen he thinks the people at the Federal Reserve have been doing the best they can.

“I don’t want to get into a lot of Fed bashing — they do the best they can,” Kudlow said. “Their models are highly flawed. The deep state board staff, of course, has not been helpful — oops, did I say that? But the fact is, the Fed is moving us in the right direction. So, yeah, we are going to see some lower rates.”

He continued, “We are going to see some lower rates … lower rates all across the world, maybe saving the rest of the world from a recession.”

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