U.S. Markets

White House's Kudlow sees room for Fed to reverse rate hike

FILE PHOTO: White House chief economic advisor Larry Kudlow speaks with reporters on the driveway outside the West Wing of the White House in Washington, U.S. June 27, 2019. REUTERS/Yuri Gripas

WASHINGTON (Reuters) - White House economic adviser Larry Kudlow on Tuesday said he believes the Federal Reserve has room to reduce interest rates when it meets this month and could reverse the rate hike it imposed in December.

Kudlow, speaking at an event hosted by CNBC, said he thought the U.S. central bank should aim for price level stability and not focus on jobs data like last Friday’s U.S. jobs report.

Reporting by Andrea Shalal; Writing by David Alexander; Editing by Susan Heavey