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Louis Hernandez, Jr., Open Solutions CEO, on what he is hoping to hear from Fed Chairman Ben Bernanke in today’s press conference.
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More insight in the decision from Ben Bernanke himself -- over an hour.
Louis Hernandez junior open solutions CEO and author of saving the American dream joins us now Lewis what do you wanna hear Bernanke say that.
Well I'm not surprised that there's not any changes in the Fed fund -- what I wanna see him do is do things that'll help the economy to me it's most about jobs.
We lost eight point four million during the crisis.
We have the lowest employment rate of brown fifty point 6% in like three decades we have a long way to go -- that's why I'm not surprised that this could still concerned.
About the economic recovery and jobs.
But they've done everything that they can't even about more than two trillion dollars -- securities since 2009.
I mean they really are out of bullets and I say that.
It's not funny anymore they have nothing else that they can -- That's one of the challenge that he what they can do -- -- to -- it's a simple equation we're mostly consumer economy consumer confidence comes from jobs 65% of jobs created by small business.
There's a 22%.
Increase in regulations aimed at small business that cost almost 3000 more.
To employ somebody as a small business for -- large corporation.
And the people who helped them small banks and credit unions they're being punished by other regulations that were -- mostly a big banks of the people who.
Drive the economy this American dream are at risk right now I got that -- a big problem but.
Bernanke did you -- nothing about it is the Fed it too optimistic on the economy right now or is it too pessimistic.
I think they've got a realistic outlook I think you know I hear other policy makers and politicians too optimistic I think I think I think the Fed sees as a disconnect between main street and Wall Street right now.
Wall Street got ahead of what main -- seems there's still concern about job growth until we have that you're not gonna see consumer spending increase.
You make a really interesting point about US companies and employment growth because the Fed has already in the past talked about that they're concerned.
And I'm going back to -- expiration of the bush tax cuts in the this year the spending cuts we're gonna Seattle Washington after the election they're worried that companies are gonna hunkered down.
And not higher and that is the biggest you're saying the biggest problem for 2012 for all of us -- this the -- -- and that he.
Exactly I think that's what the Fed can do from their -- they've said -- we're doing everything we can.
We cannot have a 22% increase on making small businesses entrepreneurs like me do what they do best.
And then when they finally fight through that anyone alone it's nearly impossible we've got to change that.
This time thank you Louis Hernandez junior.
Appreciate you being here thank you guys really -- -- and I can tell you it has been a fastening our --
