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The head of the White House's national economic committee, Robert kudelau, on Thursday compared federal reserve staff to "deep state," reiterating his and President Trump's call for Fed policymakers to further reduce borrowing costs.
"They are moving in the right direction," Mr. Kudrow told CNBC, adding that a 25 basis point cut is appropriate. "Their model is seriously flawed. Of course, deep government, fed personnel, did not help. Oh, did I say that? "In an interview with CNBC, Kudrow used a conspiracy term used by some to refer to shadow government.
Fed policy makers will meet in two weeks to discuss interest rates. This year, they have cut interest rates twice to deal with the rising risks, including the current US China trade war and the risk of slowing global economic growth. Trumpton urged the fed to cut interest rates to zero or even lower, and called policymakers "idiots."
In a television interview, Mr. Kudrow told reporters that he was not physically attacking, but insisted that the Fed's model would not work.
The Washington based board of governors is part of the federal government, but its members serve 14 years longer than any president. The Federal Reserve publishes its financial reports and regularly updates congressional supervisors. It operates independently of the White House to achieve its statutory mission of full employment and price stability.
The Fed system has 22400 employees, 2800 of whom work in Washington and the rest in regional Fed banks. In addition to economic analysis, the responsibilities of employees include bank supervision, network security, payment and a series of other responsibilities.


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