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Kudlow on inflation hitting new high: Anyone in Congress who wants to spend right now is 'out of their mind'
By Fox News Staff
Published June 10, 2022
FOX Business host Larry Kudlow called for a freeze on domestic spending on "America’s Newsroom" Friday after inflation hit a new 40-year high as May consumer prices surged under the Biden administration.
INFLATION HITS FRESH 40-YEAR HIGH IN MAY WITH CONSUMER PRICES SURGING 8.6%
LARRY KUDLOW: Anybody in Congress who wants to spend on some bill right now -- environmental spending, energy tax credits, health care, child allowances, DB derivatives – anybody that wants to spend has got to be out of their mind. Given a report like this and given the trend line and given the acceleration of inflation, we need to freeze domestic spending while the Fed removes excess cash from the economy.
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This shows you we're headed downscale. It's going to be very difficult, if not impossible, to avoid a recession in the next 12 months. That's what's going to happen here.
WATCH THE FULL INTERVIEW HERE:
https://www.foxnews.com/media/kudlow-inflation-hitting-new-high-congress-spend