Commentator and CNBC host Larry Kudlow is urging Americans not to panic over the turmoil on Wall Street in the wake of Britain's vote to leave the European Union, saying it will be good for both "growth" and "freedom."
In an interview aired Sunday with New York businessman and radio host John Catsimatidis on "The Cats Roundtable"
on AM 970,
Kudlow hailed the Brexit vote, calling it the "Magna Carta 2.0."
His remarks start about the 30.05-minute mark.
"First of all, from an investor's standpoint, my best advice is don't panic," he advised. "Ride through the volatility, and I'm sure it's going to last on and off for a while."
Story continues below audio.
U.S. stock markets sank like a stone on Friday in the wake of Britain's vote to leave the European Union, suffering its worst drop in 10 months, Reuters reported.
"You're going to have to be calm and just ride through this," Kudlow urged. "Don't make any radical changes. Long-term, this will be very good for growth and very good for freedom," he said.
Kudlow said he thinks Britain leaving the EU is "good for independence and its good for self government."
"It gives Britain an opportunity to improve its economic policies on the supply side with less regulation and lower taxes and spending," he said.
"I call this Magna Carta 2.0," he added. "I regard this is as a good thing. … Long term it's going to be very good for growth, very good for freedom."
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