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As the Federal Reserve continues its money burning some wonder whether -- focus on boosting investments is really helping the economy stocks hit new highs.
But job growth of manufacturing seem to be weakening.
Has that had become too much of a market maker -- rather than a market regulator let's ask -- fed insider Wayne Angell former governor.
The Federal Reserve and our touchstone for everything correct about the Fed -- great to CFI is the Fed becoming too much of a market player.
I know I do not think so I -- fed is doing its job which is first of mold to provide -- developed -- And even though they've created a lot of reserves.
I think they're still can keep price stability in mind and thereby average strong dollar.
But their job is also you may not like it but they also have the other mandate of keeping unemployment low and that doesn't seem to be helping a recent months.
Well the Fed is not very good and Everett tries I -- is not very good it.
Strategy in the unemployment rate that that is very -- at providing price stability.
And they start they get that right every everything else will fall in place and as a result of that I played that.
That debt market.
Protester burns out there.
Ought to go all I may go a long equities Golan realist they have to fight the federal law that.
No longer houses I mean this is monetary policy works and they're given you opportunity.
To get hands so so get -- out.
But -- the problem has is that their mandate is to keep unemployment down and and unemployment has not been down in recent weeks and months.
And and sometimes in fact the stock market gets better as companies.
Eliminate workers that is sometimes if the Fed views now as -- sort of unofficial mandate to -- investment side.
And to keep the market up which some people say it does.
That's in conflict.
With its mandate unemployment.
Well I don't think that conflict is very bad got beat them -- -- Israel -- any kind of a tough part of the cycle at this point.
But I think they're during that just right and I want to pay any particular.
One of the very first members.
The voting members have noticed a brotherhood of our reserve bank of Kansas Saturday.
Esther Georgia -- watch what what what a fantastic job she has done.
And haven't read a former director of the Federal Reserve binder guess is that they are -- -- very proud of her.
And her ability to step enter that voting bro she has had in the different -- a very big handed.
And that first year after Brad my gut is there she is calling up my shoes change it and she sure seems that.
Well yeah it's -- -- -- voice -- it but but getting back to the larger issue central banks all over the world -- money like crazy.
Some of those central banks by the -- way are not only market movers but they're buying stocks now what do you think of that.
Well I don't more.
To have the Federal Reserve do critics say goodbye trays race not I don't -- give them a pass off days mortgage backed securities.
That are very close to treasuries.
But but the Fed should stay at its business were just providing.
Ample but not to have pulled money out I think everybody dead chairman Bernanke of the Fed.
All of them are bound lots of credit in addition to this special credit had about -- -- -- Where are we get down to you you love master George but I think I'm still not willing to give credit to -- to somebody who's two mandates do not seem to be fulfilled but neither money stability nor unemployment I mean that's.
Again they're doing -- the market loves what they're doing.
But the economy in general doesn't seem to be benefiting at least not right now.
Well they've well it will but I've had a great GM amber on the verge of having errors and never -- better -- As we're getting more more -- really lead based shaking up American manufacturing.
And the United States I've never seen a time.
Where things have moved so well hit it in our favor and that's why I am so decidedly bullish.
On my hand on how lives and -- -- punish mr.
contrary -- day when the market is down triple digits you hear from Wayne Angell.
Praising though the market the economy and Ben Bernanke and Esther George you -- -- -- forget -- George Wayne good to see a thank you very much appreciate it.
So he got his base.
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