Newsmax Finance Insider and renowned economist Larry Kudlow told Newsmax TV that the "economy is faltering" and called for the Federal Reserve to "get us out of this QE mess that they put us in."
The U.S. central won't raise rates anytime soon but "they should because the Fed has got to make very big changes in how it operates and get us out of this QE mess that they put us in," he told "The Steve Malzberg Show."
"Right now the economy is faltering. Every number for the month of August reported in September, falling retail sales, down housing starts, down industrial production, down manufacturing and there is virtually no inflation. If you have big inflation the Fed should tighten. We don't have any inflation therefore they should wait," the CNBC senior contributor said.
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Kudlow also discards criticism that Donald Trump won't really cut business taxes and that it's all just empty campaign-trail talk.
"There's going to be a 15 percent rate on all businesses large and small period. End of sentence. There may be legal, technical issues and who qualifies for this and who qualifies for that," said Kudlow, author of "JFK and the Reagan Revolution: A Secret History of American Prosperity."
"The vast majority of small business are going to get the 15 percent rate down from 40 and everyone will be available for that rate. You're talking technical stuff and the newspapers may blow it up. It's nonsense," the radio talk-show host said.
And Kudlow, a Trump advisor, warns that the billionaire real-estate developer will win the White House just in time to pull the economy back from the brink of disaster.
"The best thing I can say about this from my heart deep down inside we only have three months of him," Kudlow said of Obama.
"Time is still not on our side. He's got the whole story wrong," said Kudlow, who under President Ronald Reagan was the associate director for economics and planning, Office of Management and Budget, Executive Office of the President, where he was engaged in the development of the administration’s economic and budget policy.
Obama has gotten "the whole bombing story wrong. He's got the whole terrorist story wrong. He's got the whole ISIS stories wrong. He's got the whole tax story wrong. He's got the whole Obamacare story wrong," Kudlow said. "It really is time for a new election."
Larry Kudlow is a senior contributor at CNBC. To read more of his work, CLICK HERE NOW. To find out more about Larry Kudlow and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com
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