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FBN’s Gerri Willis gives her take on the Federal Reserve’s decision to leave interest rates unchanged, plus what she predicts Chairman Ben Bernank...
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-- -- the Fed leaving rates unchanged despite some signs of stronger economy next up in Bernanke faces the news media at 2:15 eastern.
But now we're joined by Fox News anchor Gerri Willis Gerri -- would you ask Bernanke.
Well okay -- serious question for the Federal Reserve Chairman is William go shopping with me if you can't find inflation in this economy I can find -- Oreo.
Milk bread you name it's all over the place.
Question I have frankly.
Is why is your view of the economy so different from the White House right you look at the what the Federal Reserve it says about expansion 2% 2.2 percent.
They're not very upbeat and the president himself saying hey this economy's going great can think Jerry.
You know certain that the Fed -- the Fed Chairman himself and some of the voting members of come out either -- interviews -- in speeches over the last month or so.
And they've been very vocal about the frustration with Washington saying you're going to let the bush tax cuts expire.
You're talking about spending cuts are not gonna do any thing it's not to the November 6 election.
And this is unacceptable but -- Washington seems to be like Kong island.
That they pursue but look we've had three and a half years have zero or near zero interest rates.
I'm starting to wonder if this is Greenspan all over again if you remember the dot com boom we kept rates low for a very long time ultimately.
It was too much stimulus for the economy and the boom went -- Can the Fed afford to be a couple months late in raising rates can keep getting -- tamp down inflation I think -- clearly.
I think that's a -- fact that that's a tough hill to climb.
Because if you're behind the curve everything starts going up in your chasing it.
So yeah I think you've got a good point there it's going to be very tough for the Federal Reserve to chase inflation and we're already seeing it in the economy I don't care what they said today you know one of the things they did mention on the statement were -- on -- going through each paragraph by paragraph has evolved but they really are talking about gasoline prices and they do.
In -- point to that issue of inflation.
What do you think it would meet at the Fed had to go back on their promised a bleeding rates and chase -- doesn't foresee any.
That was on Wednesday that I never I I could not comprehend because I think Ben Bernanke's very Smart guy can give me Iraq.
But why -- they make this promise that we're gonna keep rates at this level.
Forever -- I mean essentially at least for this administration right it makes no sense to me and he very well may have to go back on -- I think that will disappoint a lot of people -- -- I -- Smart people in the marketplace know that could happen might.
I got a curve -- for you here out given that if the Fed raises interest rates.
The cost of government borrowing could go way up depending on how much you raise interest rates is an almost unpatriotic.
And -- in the becomes to raise interest rate.
Have a that'll save our key eastern so many other ways Dennis you -- that's look.
We don't want to get behind that curve of inflation and I think that's the real problem we could be facing another six months to a year.
Is rising inflation that hurts all of us tips -- and comes means our money is worth less money.
So yet even today -- -- -- some patriotic that maybe it's just the medicine in the market.
-- look when he comes -- gives up that's a bad news conference at 215 we're gonna get a statement at 2 PM eastern time.
Do you think that he will come not swinging this a little bit at the administration.
A little even as well as -- -- you could swing it congress nobody's getting anything done the senate hasn't had a budget in three years there's lots of people to be angry at.
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