The sun was shining on Kevin Warsh today as he gave his first Congressional monetary report on a day when the consumer price index unexpectedly fell for the first time in six years. And that takes a near-term Fed rate hike off the table. As Mr. Warsh said, it’s too soon to declare mission accomplished, but he vowed to defeat inflation and get monetary policy right during his appearance before the House Financial Services Committee.<br><br>With Steve Forbes, John Carney, Sen. Tommy Tuberville, Victor Davis Hanson, Roger Zakheim, Brett Velicovich, and Sen. Masha Blackburn.<br><br>Learn more about your ad choices. Visit podcastchoices.com/adchoices

Can Kevin Warsh have his cake and eat it too?

Kudlow 

Hello, folks. Welcome to Kudlow. I'm Larry Kudlow. So the big story for business and investors today is an unexpected decline in the consumer price index, what Wall Street calls a negative CPI print. That simply means the level of prices actually fell. Now, take a listen to what President Trump had to say about this earlier today.

We had the worst inflation in history and the history of our country. I mean, we had months where it was nine and 10 percent. And now we have a report just came out. It was just released. Thank you for bringing it up. But the report was incredible. Inflation is way down. That means prices are coming way down and we're doing a great job. Remember that for the midterms. I say to that camera, remember that because nobody else could do it.

All right. He's a very happy camper over these good results. And with today's falling inflation report, a Fed rate hike, at least for July, is off the table. And oh, by the way, while we're talking about this, why is New York losing its millionaires?

And then why is New York Governor Hochul banning data centers for a year, which going to cheer China, but damage New Yorkers in the rest of America? How dumb can you get? Anyway, John Carney and Steve Forbes will be here in just a moment to chew on all that. And then in war news, the U.S. naval blockade of Iranian ports and oil sales now back in effect.

And the U.S. launched another round of strikes against Iran today, I believe commencing at 3 p.m. Eastern an hour ago. The president has walked back to 20 percent straight of Hormuz.

Can Kevin Warsh have his cake and eat it too?

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Can Kevin Warsh have his cake and eat it too?

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.