Larry Kudlow is now framing a Fed cut as one-and-done insurance cut
Far more than that is priced in
Not even Larry Kudlow can call for Fed rate cuts with a straight face.
He was on Bloomberg TV and said the Fed should take back its most-recent rate hike and that "with a weak global economy taking out an insurance policy is not a bad thing."
He pointed to low inflation as a reason to cut, despite the strong economy.
"I just don't want anything to interfere with this strong prosperity cycle," he said.
Kudlow also said US-China face-to-face meetings are coming (it's already been reported they're coming next week).
Meanwhile, the Fed funds futures market continues to price in an 89% chance of two-or-more cuts before year end.