Ocasio-Cortez suggests eliminating Department of Homeland Security

Cornelia Mascio
Luglio 11, 2019

White House National Economic Council Director Larry Kudlow praises Democrat Rep. Alexandria Ocasio-Cortez for challenging Federal Reserve Chairman Jerome Powell on the Phillips Curve theory about low unemployment and inflation. During the hearing, Ocasio-Cortez pointed out that many economists have grown concerned that this "is no longer describing what is happening in today's economy".

"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. "I want to note in the hearings yesterday with Fed Chairman Jay Powell, it was Ms. AOC asked him about the Phillips Curve". It suggests there's a trade-off between low unemployment and stable prices.

Kudlow has also criticized the ideas behind the Phillips Curve - and joined his boss Trump in berating the Fed for keeping rates too high.

"She got it right", Kudlow told reporters at the White House later on Thursday.

"I got to give her high marks for that", Kudlow said, arguing that Ocasio-Cortez shares his and President Donald Trump's position of "strong growth" not causing inflation and higher interest rates. "It looks like the Fed is going to have to cut their rates".

"I'm just saying nobody in life is all good or all bad and I've got to give hats off Ms. AOC, [she] kind of nailed that and I'm hoping she and I can sit down and talk supply-side economics very soon", he added. He said a "booming" jobs report came out Friday and it's part of a "powerful prosperity cycle because of pro-growth policies on taxes, regulations, trade reform, energy and so forth".

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