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Back to our fed panel earning the -- -- -- David Jones both former fed insiders gentlemen -- left in the last blocked by asking you who you think would be the best replacement for Ben Bernanke.
That may be a different answer than -- you think will be the chosen one David -- to get first crack at this.
I'm delighted at first crack.
-- I think everyone is betting on Janet Yellen the vice chair of the -- she's highly competent.
Trained well for the job.
But I think it's a horse race and I think the horse that is gaining.
Is a gentleman by the name of Larry Summers.
He was head of the National Economic Council.
He's the smartest person in the room the only problem is he tells you he is the smartest person in the -- up so my -- so a my dad is on Summers.
What what about you -- I think David -- just perfectly encapsulated.
What Larry Summers is about highly experienced an individual thinker I'm just wondering if the president would go for somebody like that.
-- go back the Janet she was on the council of economic advises the president that the Federal Reserve Bank its -- Cisco -- on the bullet.
Managing the blood and both of lady is experience.
On the issue of facts which we haven't mentioned I really -- to the side of the statements about Larry Summers and his view on women I just don't believe.
And -- a woman but you know people -- lady lawyers Tenet is not economists.
After my -- give it an easier person to live with when Larry that's for sure I've worked with him when I was at the Fed -- When he was in the treasury and he and he can be a little difficult to get along with and work with its -- they'll work for.
But what I find most interesting is I can't recall congress writing a letter about its voice and in terms of who it wants to see -- the next.
Fed Chairman between between the two of -- my final thought -- No matter who gets -- -- both incredibly confident and the country will do well with the it's not like.
We're really gonna suffer incur -- -- that after lunch and I -- Janet Yellen.
But Janet okay through got one and one that's very -- -- nobody said Roger Ferguson or Alan -- I I I don't know why I'm stuck on -- Blatter does feel like he's one of those very brilliant economists as well all right as we finish up.
Need to get to mortgage rates we've started to see them tech hired almost at the -- of discussion about tapering David.
It's it's so terrible if we start to see tightening of rates doesn't that indicate an improving economy.
Exactly right -- that absolutely is the case and that's my argument.
I do see the economy picking up in the second half of the year which by the way the Fed is forecasting itself.
After a soft.
First half of the year even with that better than expected second quarter so.
If if the mortgage market is getting better and I think the economy will be led by that.
By better housing sector.
It's it's good news because I think people will be motivated to go out and buy a house that they see rates gradually moving higher.
Did -- now -- -- now before rates go up higher so I think that's a good plus for the economy.
And I don't see any damage done by a moderate rate increases.
We want to thank both David Johnson -- the tree case we'll have you back because again September 17 is probably just around the corner thank you so much.
Thank you fed insiders for being on our panel we'll see you next time.
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