Larry Kudlow: This is the Fed's 50-basis point gift to Kamala Harris

The Fed's 50-basis point gift to Kamala. That's the subject of the riff. 48 days before the election and it looks like Fed Chair Jay Powell just gave Kamala Harris a 50-basis point gift by slashing their target rate by half of 1%. This may well put the central bank smack in the middle of presidential politics – something they pledged not to do. 

Now, in light of a modest decline in commodity prices and longer term interest rates, along with a softening in the labor market, a 25-basis point cut would seem to be justified in economic terms, with no political overtones, but a 50 bps super-cut sounds a lot like the ultra-liberal Democratic senators Elizabeth Warren, Sheldon Whitehouse, and John Hickenlooper, who were jawboning the Fed to lower interest rates by 75 basis points.