CNN panel goes off the rails as Trump defender says the Fed should obey Trump's whim

[turbinetree]

MARTIN CIZMAR
26 DEC 2018 AT 12:06 ET

The stock market has had a rough December, giving back all of its gains for the year and dipping into the so-called “Trump bump” that followed from Trump’s tax cuts for wealthy Americans and his repeal of regulations.

On Wednesday, CNN host Kate Bolduan discussed the developments with Financial Times journalist Rana Foroohar and former Trump economic adviser Stephen Moore.

“There are a few things going on,” she said. “Some of them we knew were going to happen. Recovery cycles tend to last about 10 years. A lot of economists were predicting a slow down a year ago at about this time. It’s not really a surprise. There are a couple of things that have happened. The president has come and really rattled the market with tariffs and trade war against China. We had a tax plan… that basically enriched companies, allowed allowed companies to bolster share prices but didn’t do anything for normal people. All of that is coming home to roost. We have record amounts of corporate debt which is a reason the fed wants to raise rates now. Markets are out of sync with the economy. You need to not have such a big divergence between Wall Street and main street.”

Moore said that the China trade war was the real problem, and that he expects the problems will all go away.

https://www.rawstory.com/2018/12/cnn-panel-goes-off-rails-trump-defender-says-fed-obey-trumps-whim/

I can't wait for this Moore "person" to be called into a congressional hearing...................

January 3, 2019 cannot get here fast enough.......................


https://www.timeanddate.com/countdown/to?iso=20190104T00&p0=263&msg=Blue+Congress+Begins&ud=2&font=slab&csz=1

[SWBTATTReg]

1. Idiot. The Fed. being independent is one of the virtues of the Fed. that we have today (free ...

of politics, etc.). For anyone to even suggest this is (1) they are exceeding naïve and ignorant of the historical rationale of keeping the Fed. independent (she's a good reason in itself, wanting to print money, lower rates, etc. on rump's whims instead of logic and market forces).

Thanks for putting this up turbinetree. As one having two degrees in economics (micro and macro), and one in auditing (accounting), I shutter when I hear talk of this.

[turbinetree]

2. Your welcome......................

This twit doesn't even understand that to keep people employed you have to adjust to to the market value of money, so that the country doesn't have a run away in inflation, and I think we are in a deflation period.................this twit is dangerous, he really is....................and he's on this other twits team. I am still trying to understand how someone would say on a team that defrauded the state of New York out of 3400 million dollars in a tax fraud scram...................amazing. No principles .................none................

[Xolodno]

3. The Fed...or any national bank really...

...can technically be considered another branch of government. However, its a branch that needs to be devoid of politics. Congress actually has control, but a long time ago they wisely decided to remove that power from themselves.