Fox Business' Larry Kudlow: Gasoline price spike “really isn't doing all that much harm”
Kudlow: “It just seems like the economy is, you know, doing much better than people would think”
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From the May 4, 2026, edition of Fox News' America Reports
MARCUS LEMONIS (FOX BUSINESS CONTRIBUTOR): When you think about what's happened with fuel – between the barrel, the boat, the basket, and the balance sheet — it's affecting everybody. But I think everybody needs to come back to reality and understand that the reason that this is happening is because we don't want nuclear weapons to exist in the marketplace. And while the shock is severe, and the shock is real, I do believe it's temporary. But, right now, average Americans aren't really feeling that.
LARRY KUDLOW (CO-HOST): Thank you for that, Marcus, because I think it's a small price to pay to stop the nuclear activity, and all the terrorist activity, from the most gruesome regime we've seen in a hundred years. So, thank you for that. I just want to say though, it's interesting, Marcus. I don't know whether you see it the way I do, but front page of the Journal news story. They got something right finally: The American economy is very resilient.
And it turns out it's AI, of course, the build out, a lot of capital spending. But you know what else? It's profits. Profits are soaring and they're still running. I mean, we got new first quarter numbers coming in. Double digits, you know, 12, 14, 15% across the board, industrials as well as technology. And so it just seems like the economy is, you know, doing much better than people would think and maybe four, four and a half dollars gasoline — it's not a great idea, wouldn't want it forever, but it really isn't doing all that much harm.
LEMONIS: Well, I think you said it right, Larry. We don't want it forever, but this short-term pain has a big, big benefit to it.