I watched his opening remarks and what sounded like Britt Hume doing the opening story on the Gevernment Shutdown.
When they got to the part about Trump asking (which Hume described as “unprecedented”) his aides if he could fire the Fed Reserve chairman, I turned it off.
How is it unprecedented? Is the Fed Reserve controlled by NO ONE? I don’t think there should be ANY unelected position in government that is not controlled by an elected official. NONE. Even a Supreme Court Judge can be impeached.
Britt is full of crap. Biased choice of words without an explanation.
So finally we have arrived at that point in time where the Stock market and our 401K/IRA plans are getting a beating.
The current Fed Chair is doing the correct things.
1. Raising interest rates to something approaching normal (4~6%). This will eliminate NON-Economic use of money - no more share buybacks.
2. removing QE money - the release of this money by the Obama Fed is what created the bull market and all of its excesses. The Piper WILL be payed
3. I for one will support Trump through the coming stock market collapse. We need a P/E of about 7~10 to return to a fairly valued market