Also in this playlist...
This transcript is automatically generated
Well while traders have been using the markets to express their anxiety over what Ben Bernanke might say tomorrow the real question.
How -- the Federal Reserve's action impact all of us here away and faculty can president of the American action report.
-- great to -- -- I have never heard so much talk about -- My client list has died you know out exactly on the bottom to bring up so what do you think the Fed's gonna do.
I don't think they'll do anything until I mean honestly that this at this meeting won't be anything.
Traditionally if the -- going to do something.
They're going to do it after the big meetings and obviously Jackson hall -- you know that the Fed clan goes there they discussed and usually.
They lay the ground work for anything new to tell the press that pretty much signal it and in September the maker of so nothing happens to -- the Jackson only.
Don't see anything happening now and yet its people are so worried about this in the markets are in disarray right that's the Fed's fault I mean the Fed really did.
Make a conscious effort to quote improve its communications.
Program and in fact checking into talking all the time and -- I was anyone else -- clarity would be got it right.
Everyone's talking now so more voices does not mean better communication people really don't know what the Fed is up to but.
I don't think anything's going to happen in near term it'll be September.
At the earliest I also don't think -- happen and be honest what you eat you are an economist by training when you look at this economy.
-- I've got to step out high unemployment I don't care what you say it's a very good but not much -- what do you make of this economy.
We're not doing what I mean as you said GDP growth -- slow.
Unemployment remains very high double digits for comprehensive measures of of unemployment.
Real incomes have fallen not risen in the recovery -- that that there's nothing to celebrate here I mean the average American looks at their budget and and does not think wow that's.
Things are going great.
When the dirty little secrets of this economy to is that interest rates are so low appear senior -- right you're getting nothing for your money.
Right so they have a big stake in what the Fed does mom.
Anyone who's out of stock markets because I'm nervous about it and no longer betting the ranch on the house that means they are in.
Things that have very -- -- -- and not making much on that.
They'd like to see -- that's gonna do next the flip side.
Is -- the Fed moves everyone's credit card higher.
Everyone's car -- higher every once I -- a line hire you don't it's gonna go -- are gonna get through the roof and let's say you have that adjustable rate mortgage tied to interest rates that goes up the hill.
I don't you know it's been so long since we had high rates people forget what can happen.
Is the potential goodness and all that and economists right there's always two sides this.
I would pray that the Fed is moving to raise interest rates and that things are getting more expensive in that sense only because the economy has -- recovered.
That's the problem we want to have.
Right an economy that's growing so rapidly the Fed -- the need to complicate.
Occasion for products prices are going up because more people want abide that would be -- good that's the problem lots of people employed spending a lot of money.
Fed needs to slow it down a problem we want to have.
Right right well -- -- lipstick got here a couple of Doug -- -- thanks for coming on it's always great to have you here on this that we feel privileged thank you my pleasure.
Filter by section