White House economic adviser Larry Kudlow defended his boss Sunday, saying that Donald Trump respects the Federal Reserve Bank's autonomy despite last week's remark that the Fed had "gone crazy" raising interest rates. Kudlow, speaking on "Fox News Sunday," said that Trump was "giving his opinion" on interest rates based on his background "as a successful businessman and investor."
Trump is "not impinging on Fed independence. He didn't say, 'I want you to change your plan,'" Kudlow said. The president, stung by heavy losses on the stock market, said Wednesday that recent interest rate hikes by the Federal Reserve - the US central bank - were excessive.