Rep. Alexandria Ocasio-Cortez Wants to Dismantle Department of Homeland Security

U.S. Rep. Alexandria Ocasio-Cortez’s chief of staff Saikat Chakrabarti. Credit Screenshot

U.S. Rep. Alexandria Ocasio-Cortez’s chief of staff Saikat Chakrabarti. Credit Screenshot

Speaking on "Fox & Friends", the National Economic Council director pointed out that it was Ocasio-Cortez that asked Powell about the Phillips Curve, which theorizes that as the unemployment rate falls, wages rise and thus, inflation accelerates.

"I feel like we are at a very, it's a very qualified and supported position, at least in terms of evidence, and in terms of being able to make the argument, that we never should've created DHS in the early 2000s", Ocasio-Cortez said. Why is rising growth and employment and low unemployment bad?

During a hearing on Wednesday, Powell largely agreed with Ocasio-Cortez when she said economists are concerned that the curve is "no longer describing what is happening in today's economy", and Kudlow said he agrees. "Why does that cause inflation and higher interest rates?" he remarked Thursday. And Jay Powell said, 'Well you're right. "She got that out of chairman", he asserted.

"By the way, that is my position", Kudlow continued.

President Donald Trump's top economic adviser praised left-wing Democrat Alexandria Ocasio-Cortez, after the political rivals found common ground in urging the Federal Reserve not to worry about low unemployment triggering inflation. "It looks like the Fed is going to cut their rates".

"I've got to give hats off to Ms. AOC". She kind of nailed that.

Kudlow then went on to agree with an assessment in the New York Times that the Fed should lower interest rates.

He further noted that there was a large jobs number that came out last Friday, and the nation is in a "powerful prosperity cycle because of pro-growth policies on taxes, regulation, trade reform, energy and so forth". "He confirmed that the Phillips Curve is dead".

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