unemployment

Richmond Mayor Levar Stoney also resigned from a planning committee in protest. Caucus members said they will also boycott the rest of a weeklong series of events marking the 400th anniversary and have instead planned alternative commemorations Tuesday in Richmond, Virginia’s capital. Trump’s comments about Cummings were the latest rhetorical shot at a lawmaker of color to spark outrage. Earlier this month, Trump drew bipartisan condemnation following his call for four Democratic congresswomen of color to get out of the U.S. “right now.” Caucus chair Del. Lamont Bagby said in an interview the group unanimously reached the boycott decision more than a week ago. But he said the president has “continued his attacks” since then and his remarks about Cummings’ district were more of the same. Virginia’s black state lawmakers announced Monday they will boycott a ceremony this week commemorating the beginnings of American democracy because President Donald Trump is scheduled to attend. Trump will join national and state leaders and dignitaries at Tuesday’s event, a commemorative session of the Virginia General Assembly at which Trump is to deliver remarks. White House press secretary Stephanie Grisham said Monday that the caucus was pushing “a political agenda.” “The commemoration of the birth of this nation and its democracy will be tarnished unduly with the participation of the President, who continues to make degrading comments toward minority leaders, promulgate policies that harm marginalized communities, and use racist and xenophobic rhetoric,” the caucus said in a statement. The convening of a legislative assembly in 1619 formed the basis of today’s representative system of government in the United States. The Virginia General Assembly is considered the oldest continuously operating legislative body in North America. The caucus’ statement did not specifically mention Cummings but said Trump’s “repeated attacks on Black legislators and comments about Black communities makes him ill-suited to honor and commemorate such a monumental period in history.” When the Richmond Times-Dispatch first reported earlier in the month that Trump would take part in the event, top Democratic lawmakers said they would not attend. Republican Senate Majority Leader Tommy Norment said at the time that their decision was “disappointing and embarrassing.” The Virginia Legislative Black Caucus said its members would not attend Tuesday’s event in historic Jamestown marking the 400th anniversary of the first representative assembly in the Western Hemisphere. The boycott comes after Trump’s weekend comments referring to Maryland Democratic Rep. Elijah Cummings’ majority-black Baltimore-area district as a “disgusting, rat and rodent infested mess.” Tuesday’s events are just one part of a yearlong commemoration called American Evolution meant to honor key milestones in the state’s colonial history, including the 400th anniversary of the arrival of the first recorded Africans in English North America. “President Trump passed criminal justice reform, developed opportunity zones securing record-setting investment in distressed communities, and pushed policies that created the lowest unemployment rates ever for African Americans, so it’s a bit confusing and unfortunate that the VLBC would choose to push a political agenda instead of celebrate this milestone for our nation,” she said in a statement.

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National Economic Council Director Larry Kudlow Thursday praised Rep. Alexandria Ocasio-Cortez, D-NY, for her questions to Federal Reserve Chairman Jerome Powell, saying he would give her “high marks” and saying he’d like to meet with her to discuss economics. 

“I’m a supply-side conservative and so forth,” Kudlow told Fox News’ “Fox and Friends.”

“I want to note in the hearings yesterday with Fed Chairman Jay Powell it was Ms. AOC who asked him about the Phillips Curve.”

The economic theory represents the relationship between inflation and the unemployment rate, finding that when unemployment is high, wages increase slowly, but when it’s low, wages go up rapidly. 

During a hearing on Wednesday, Powell largely agreed with Ocasio-Cortez when she said economists are concerned that the curve is “no longer describing what is happening in today’s economy,” and Kudlow said he agrees. 

“By the way, that is my position,” said Kudlow. “That has been the president’s position. Strong growth doesn’t cause higher inflation and interest rates. It looks like the Fed is going to have to cut their rates.”

And, he added, “nobody in life is all good or all bad…I’ve got to give hats off to Ms. AOC. She kind of nailed that. I’m hoping she and I can sit down to talk supply-side economics very soon.”

He further noted that there was a large jobs number that came out last Friday, and the nation is in a “powerful prosperity cycle because of pro-growth policies on taxes, regulation, trade reform, energy and so forth. There is no stopping it.”

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