(Video: Fox News)
Remarks from Fox Business Network host Larry Kudlow elicited a frustrated rant from a “fed up” Laura Ingraham, Thursday, over a top Biden economic advisor and April’s shrinking GDP numbers.
On Fox News’s “The Ingraham Angle,” the host played a clip for Kudlow of Jared Bernstein, a member of the White House Council on Economic Advisers, who claimed that day on CNN that America is in “a position of strength” to face rising interest rates and soaring inflation.
“Is this economy in a position of strength to face what’s coming at us?” Bernstein asked. “The answer, if you look at our job market, our GDP growth, if you look at how household incomes are doing, how their savings are doing, you would conclude that we are approaching this moment from a position of strength.”
“The GDP shrank in April,” Ingraham stated. “Inflation is destroying savings. People are getting poor in the United States. What are these people talking about? Is this in any way going to calm the market?”
Before answering, Kudlow wanted Ingraham to know how much he likes Bernstein.
“I wanna say, Jared Bernstein is an old friend of mine, and personally, he’s really a good– he’s a lovely man,” he noted.
And that’s when Ingraham snapped.
“I’m sure he saves kittens from trees, Larry,” she interjected. “But this is the country going down the tubes.”
“I’ve gotta say, I love you and you’re one of my favorite people. Everybody’s friends with everyone in Washington and New York. We all love each other. We all — that’s great,” Ingraham continued. “Our country is falling apart. And these people are lying about it. I don’t think we can mince words at this point. They’re lying to the American people.”
‘Spinning like crazy’: NPR called out bigly when it argues the economy is ‘sturdier than it looks’ https://t.co/iUYn3sifNe
— Conservative News (@BIZPACReview) April 29, 2022
As BizPac Review previously reported, the U.S. economy shrank by 1.4% in the first quarter of 2022, and, true to Ingraham’s words, NPR’s Scott Horsley cited economists who claim “that’s not as worrisome as it might seem.”
“If we peel back a couple of layers and just look at underlying domestic demand, the economy looks to be picking up a little bit of steam,” said Ben Herzon, senior U.S. economist with S&P Global Market Intelligence.
But according to Fox News at the time, the 1.4% decline “clashed with previous expectations that the economy would expand by 11% and marked the worst quarter growth in two years since the start of the coronavirus pandemic.”
Ingraham quickly regrouped and apologized to Kudlow for going off.
“I’m sorry to jump on you,” she told her guest. “I’m fed up with it.”
“Yes,” replied Kudlow. “I understand.”
“Analytically, I don’t know what Jared’s talking about because, in fact, he’s talking about consumer incomes,” Kudlow continued. “Look, consumer incomes — after inflation — are falling. And small business incomes — after inflation — are falling. So, I’m not sure he’s coming from on this.”
“Look, the Federal Reserve blew this one year ago,” Kudlow stated. “I don’t know why [Chair of the Federal Reserve] Jay Powell has been reappointed. He certainly doesn’t deserve it. People don’t have confidence.”
“He was out there yesterday, Laura, and he tried to whitewash the whole problem, and he sounded like Joe Biden blaming inflation on Vladimir Putin and Covid,” Kudlow said. “That’s nonsense. The problem here was too much federal spending, too much federal borrowing, and too much central bank money printing. And the Fed has got to stop whitewashing the problem and go to it, otherwise the longer they wait and the more they try to avoid these issues, which is what Biden is unfortunately doing, the worst the recession is going to be.”
“The worst possible combination is inflationary recession — a double barrel of poison,” Kudlow warned. “That is the worst thing you can have, and that’s my concern right now. Again, the Fed is not taking action, we’re still spending too much in Washington. These guys are talking about raising taxes, which would be the worst thing in the world.”
For Ingraham, the solution is simple.
“They should all be fired,” she declared.
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Melissa Fine is the former executive editor of Casino Player, Strictly Slots, and Poker
Digest magazines. She is a UCLA graduate, news junkie, and dedicated Stargate SG-
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Nevada foothills.
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