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White House adviser says Fed cut is 'step in the right direction'

WASHINGTON, Aug 2 (Reuters) - White House economic adviser Larry Kudlow on Friday praised the Federal Reserve's decision to lower interest rates this week, saying the central bank was moving in a positive direction.

"The Fed has ended its quantitative tightening. That's a big step in the right direction," Kudlow told reporters at the White House. "I don't see any inflation." (Reporting by Alexandra Alper; Writing by Makini Brice; Editing by Susan Heavey)