Good if Fed lowers rate in Sept. and Oct., White House's Kudlow tells Bloomberg

White House economic adviser Larry Kudlow told Bloomberg Television on Friday that he would welcome the Federal Reserve lowering interest rates this fall, adding that the monetary policy has limited U.S. economic growth.

"Market is telling us the Fed is going to lower rates in September and October. I think that's a good thing," Kudlow said. "We shouldn't have an inverted yield curve. We should normalize that. And I think that if we get to a normal position it will actually help the economy get back above 3%."