President Donald Trump isn’t dictating policy to the Federal Reserve, National Economic Council Director Larry Kudlow said Thursday on CNBC. Kudlow was responding to questions about the president’s characterization of the central bank raising interest rates as “crazy.” Trump said Thursday the Fed was “getting a little too cute” when asked about Wednesday’s stock-market DJIA, -0.85% rout. Kudlow said that the Fed is independent. Stock market corrections “come and go,” he said, and called the U.S. economy the hottest in the world. “We are crushing it,” he told the network.

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