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Manhattan Institute Fellow Diana Furchtgott-Roth, Kaltbaum Capital Management President Gary Kaltbaum and FBN’s Peter Barnes on the Federal Reserveâ...
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For more Diana first got rocked Manhattan institute fellow author of regulating for disaster how green job policies are damaging America's economy.
And Gary -- bomb president of -- bond debt capital management in Orlando.
And Fox Business senior Washington correspondent Peter Barnes and DC welcome to you Walt.
-- you're there you got to talk to the Federal Reserve Chairman did everybody in the room seemed surprised at what he had done.
Yeah I'll tell you you know we go over to the treasury press office where they distribute the press release for us to look at about fifteen minutes before the news hits the wires.
And I gotta say Jerry.
Yeah.
That they might have the might as well abroad and bazooka is as -- -- -- -- -- monetary policy has.
There was an audible gasp among the reporters -- about how far they've gone and how many steps they took.
-- what was your reaction to the news.
I I was just -- those.
Interest rates real low or ready they haven't had any effect it's not clear what this is gonna do.
Weakening the currency has -- being any route to economic growth.
And you could see gold spiking in yields spiking.
And it is just astounding that he's done that's scary.
Well you know Jerry you said they use and everything they have but I have -- -- they use and everything they don't have -- hundred no money out of thin air.
And when you -- -- money out of thin air and chasing a fixed amount of assets those asset prices are gonna go higher.
And if you read the Jackson Hole speech by the Fed they're not targeting the economy they have no effect on the economy they're targeting the markets he even said that because -- him.
The markets have gone higher and they think of the markets are gonna go higher up people feel richer they'll spend more money than the economy's gonna get better but I got news for big bad.
Commodity prices are soaring because let -- that's -- -- -- oil is soaring.
And that hurts consumers the cost of goods the businesses go up and -- -- the hotter in less.
Because of what he's doing so I don't get it I don't get -- -- -- to talk more about it Diana Peter and gear.
