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And Atlanta fed president Dennis Lockhart reiterating past warnings from the Fed Chairman Bernanke that monetary policy of the Fed.
Cannot take the place of fiscal reform on the part of congress.
So we have -- risk that monetary policy is employed to aggressively.
And without effect.
To address economic problems that can only be resolved.
By fiscal reforms.
That involve making tough choices.
About the allocation.
Of public resources.
-- Tokyo police to act next though congress -- the Fed joining us now Ted -- of chancellor investment thank you say it's all on congress now.
Yes -- see here on mortgage rates are at near at or near an all time high housing is recovering.
You know corporations -- -- -- some of the lowest.
Interest rates ever.
And -- when they don't really have the need to do not more into it to expand but to actually.
Refine their balance sheet -- I think that congress is done I'm not not congress but the -- -- -- that is it can do there's a lot of liquidity out there.
Now does have to have congress debt.
Comes out next week.
Pushes through that the truth tax cuts or extends them so that consumer sentiment can increase it to tell us who live -- us at three.
Most important things you need to see congress do.
For markets to keep going up.
Nothing they need to extend the bush airfare -- -- for another year or two and also lead to probably.
Who's a regulation for banking.
We've seen banks actually improve their lending over the past year.
Loans were up about 4% and that's a good thing and also we've got to come -- what -- you or.
Increased to focus on housing I think you know make sure we we do all that we can do.
Conjecture that that people can stand homes now.
Now -- now you actually believe that market's gonna end higher than SMP at 1419 right now you think they can end the year higher.
But how -- congress both do any of that with the November election looming.
A lot of -- I think it is gonna go past elections can't be blamed looks that should sit session that that it happens but.
You know at least show us and after their their movement in the right direction right now it's just been quiet in.
You know I think people are pretty much committee -- you know that a deal's gonna be done but they're not convinced yet.
And they said congress have to extend those tax rates like the column because the tax cut any tax -- to the tax rate.
Did does -- also need to do anything else.
-- I think they couldn't just let the markets.
You'll never supposed to do you make -- -- growing.
Also had just been I'm not a politician -- -- -- -- you know -- -- if you cut government spending -- thought that's kind of not.
An easy thing and it.
Well you know I think companies can -- and now they can find.
Above avenues to grow globally or gears here at home my mean profitable companies company's unique innovative companies found a way to grow Apple Computer does -- I mean.
You know they can't the congress can get -- -- -- in.
Answers you know right now they're discussing -- -- is.
Come out even within the killer -- yet even with the political difficulties ahead you actually like a couple sectors you like energy you think that the market sold off on energy to.
Too early in those prices -- headed upward.
Well I think that you know the good energy production is up in this country and around.
The perimeter of this country and I think that there's great comes at a gonna continue to grow also.
I think that people -- have taken out awful by the Middle East I think the tensions are still feel there is probably gonna.
Moreover by the end of the year -- and a bushel price of the empire.
All right so -- -- as well as oil keep -- -- thank you very much Ted -- insular financial director of investments.