White House advisor Larry Kudlow says Fed should 'immediately' cut rates

Top White House economic advisor Larry Kudlow wants the Federal Reserve to "immediately" cut interest rates by 50 basis points, according to an Axios report.

President Donald Trump's Director of the National Economic Council said that the Fed should slash its overnight lending rate by 50 basis points, the report adds.

Kudlow is scheuduled to appear on CNBC's "Power Lunch" at 2:30 p.m. ET.

This story is developing. Please check back for updates.

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