PING!
Posted on 02/06/2018 3:41:14 PM PST by Tolerance Sucks Rocks
MSNBC anchor Stephanie Ruhle weighed in on the stock market's historic plunge on Monday, stating “we didn't see this when Janet Yellen” was Federal Reserve chairwoman during the network's coverage of the market's wild ride on Tuesday morning.
The perspective comes one day after Jerome Powell, 65, was sworn as Yellen's replacement on Monday morning as the 16th chair of the central bank.
On the same day, the Dow Jones industrial average dropped 1,175 points, or 4.6 percent, to 24,346, the largest single-day drop in points in the Dow's history. The Nasdaq Composite also dropped 3.8 percent.
Ruhle welcomed CNBC business reporter Jo Ling Kent to “Velshi & Ruhle” on MSNBC shortly after 9 a.m. to discuss what may be next for the market after Monday's tumultuous trading session.
Kent attributed the falling markets to anxiety on Wall Street that the strong economy will lead the Federal Reserve to raise interest rates. The Fed has signaled three hikes this year.
“What we’re seeing here is some mechanical trading, some [exchange-traded funds] action there, but we’re also seeing shifts in the economy right now that indicate the economy is heating up, so Wall Street will be looking at those interest rates,” Kent said. “The new Federal Reserve chairman, Jerome Powell, was sworn in yesterday, and some investors aren’t sure how much he is going to be raising rates and that of course would make stocks a whole lot less attractive, Steph.”
“You know, I like to tout a lot of girl power here," Ruhle responded. "I’m just going to say we didn’t see this when Janet Yellen was in that seat."
“The sell-off on Wall Street is posing a real issue for Donald Trump. Remember, this guy and his entire administration has spent the last year cheerleading the markets. Cheerleading. That is dangerous behavior, particularly in recent weeks,” she added.
Markets have been volatile again on Tuesday, with the Dow at one point moving from a 500-point loss to a gain of more than 300 points.
Trump has repeatedly touted the rising stock market as a testament to a strong U.S. economy under his presidency.
“The stock market has smashed one record after another, gaining $8 trillion in value,” the president said during his first State of the Union address on Jan. 30. “That is great news for Americans’ 401k, retirement, pension, and college savings accounts.”
Since Trump's stunning victory over Hillary Clinton on Nov. 8, 2016, the Dow had gained 45 percent until Jan. 26, when it closed at 26,392.79, but has lost more than 2,000 points since.
Trump has not spoken publicly about the recent turbulence, though the White House in a statement released Monday downplayed it and pointed to strong economic fundamentals.
MSNBC anchor touts 'girl power' around market plunge: 'We didn’t see this when Janet Yellen was' fed chair
PING!
Idiot of course. Actually no. Done with intention.
Evil.
She was in charge up to the moment that she said stocks were overvalued.
A neophyte in this arena, but does this have anything to do with Yellen not ‘printing’ money anymore?
Stalinists lie. Always
BORING Hugh Hewitt LOVES Stephanie.... He LOVES Chuck Todd and ALL the lefties at NBC and MSNBC...he needs a Mental check-up.
Yellen yelled out that the stock market and real estate market were over priced the day before she left her job.
“...Yellen yelled out that the stock market and real estate market were over priced the day before she left her job....”
Exactly. it was her “parting shot” at the POTUS.
She was odongo’s FED beotch and protected his administration from any interest rate hikes the whole 8 long years. She was always way in over her head from the start, and she’s a lib hack to boot....glad she is GONE. Good riddance to bad rubbish.
I look forward to MSNBC anchor Stephanie Ruhle’s documentary about Marissa Mayer’s brilliant job of running Yahoo.
I see stupid people.
Yellen yelled out that the stock market and real estate market were over priced the day before she left her job.
...
Uh, yes, that plus some billionaire hedgies libs sold a bunch to force panicked, and Soros moved $18B..
All coincidences, of course.
Related.
The Federal Reserve May Secretly Want to Sink the Record-Breaking Stock Market
https://www.freerepublic.com/focus/f-news/3629632/posts
President Trump is mentioned in that one, BTW.
“You know, I like to tout a lot of girl power here,”
Its all girl power till its time to move heavy furniture or open a stuck lid or get rid of crawling vermin. Then its eye lash batting time.
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