(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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12 thoughts on “‘Fed up’ Ingraham snaps at Kudlow for defending ‘old friend’ Biden economic advisor: ‘These people are lying!’”
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Bernstein must be looking at Venus ~ or Finland! Can any so-called “expert” be so far off-base and still be viewed as credible??? Their reality is what all others view as “alternate reality” from science fiction.
whenever i see a poll, basically any poll really, but especially those that can be misunderstood by people who seem to have not attended high school econ101 (required in my school) or any civics course ever, which says that 81% dont think the govt is doing enough, when people who think that govt is the solution when in reality the govt is the problem & this admin is no exception, clearly this poll is 1 of those that isnt of much value. they are directly responsible for all the ills at present, so ‘doing more’ isnt really the answer. the only ‘doing’ they should be doing is to stop doing, gth outta the way as it were, imnho.
Just as nobama set up his no-care policies to come on line over years with no regard to who may be prez when the BIG bill drops, the current admin, every one of them is responsible for destroying our economy in their effort to make the crash happen on the next prez, who they KNOW will be a Republican.
THEY’RE LYING????? I’m shocked. Shocked I tells ya.
Let me add that the GDP just went negative and there are still less people working than there were prior to 3/20/2020.
At least now we know exactly what flavor of idiot it takes to believe “America is in “a position of strength” to face rising interest rates and soaring inflation”!
I used to like/respect Larry Kudlow. Maybe he’s becoming senile.
Cool! Now do Shamitty and his “good friend” Grahamnesty!
The incompetent Biden admin and FED have failed on every level for the people of this country. They have piled up huge debt and printed money like crazy-which has caused record inflation. They feel only long term inflation can get them out of the mess they created.
The only thing that will help in the long term is to:
Drastically cut spending.
Reduce taxes.
Anything else is merely a band-aid.
don’t forget this administration told us inflation is a good thing. for who i don’t know.
They consider it to be good when everything costs more because corporate/business taxes are paid on the bottom line. If overall income is higher, tax revenues are higher.