BUT THIS, I CAN SEE MY DAD’S
OLD TV SET SO NOT EVEN
THINKING.
STEVE MOORE WHO TAKES MORE
SERIOUS APPROACH TO THINGS AND
NOTICES MORE SUBSTANTIVE
MATTERS, GOOD TO SEE YOU.
THIS POLICY THE CHAIRMAN IS
DRIVING HOME SEEMED TO INDICATE
WE ARE NOT LEANING ON THE PEDAL
AND WILL CONTINUE DRIVING IT
HOME.
WHEN WE GET TO WHERE WE ONCE WE
WILL HANG AROUND FOR A WHILE.
>> THIS WAS A GOOD STATEMENT BY
CHAIRMAN POWELL.
I’VE NOT BEEN THE BIGGEST FAN
OF HIS BUT HE SAID SOMETHING I
HAVE SAID ON YOUR SHOW FOR 10
MONTHS WHICH IS YOU GOT TO GET
READY TO CANCER - CANCEL
INFLATION, THAT’S JOB NUMBER
ONE AND IF YOU HAVE SOME
CHEMOTHERAPY THAT WILL CAUSE
SOME PROBLEMS BUT YOU’VE GOT TO
DO IT AND HE SOUNDED MORE
RESOLUTE TODAY THAN I EVER
HEARD HIM IN SAYING FIGHTING
INFLATION IS JOB NUMBER ONE AND
THAT SHOULD BE THE PRIMARY JOB
OF THE FED SO I WAS HURTING BY
WHAT HE SAID AND THINK IT IS
INTERESTING, I DON’T KNOW IF
YOU LIKE THOSE WORDS ABOUT
INFLATION BEFORE THE NUMBERS
CAME OUT BECAUSE WE DID SEE IT.
>> MAYBE YOUR MEDICINE IS
WORKING BEFORE YOU APPLY MORE
AGGRESSIVE MEDICINE MAYBE YOU
SHOULD SEE HOW THIS IS GOING,
PEOPLE CAN DIFFER ON THAT BUT
WHAT DO YOU THINK?
>> WE HAD TWO MONTHS OF BETTER
INFLATION NUMBERS BUT STILL NOT
OUT OF THE WOODS BY ANY MEANS.
IF YOU LOOK AT THESE MARKETS
LOOK WHAT HAPPENED IN THE
NATURAL GAS PRICE, IT IS UP TO
10.
IT WAS THREE WHEN TRUMP LEFT
OFFICE SO YOU HAVE LINGERING
PROBLEMS WITH INFLATION.
THE MAIN REASON WE ARE GETTING
BETTER NUMBERS, THIS ACCOUNTS
FOR MOST OF THE REDUCTION IN
THE INFLATION RATE HAS BEEN
REDUCTION IN GAS PRICES AND
SOME OF THAT IS DUE TO THE FACT
THAT PEOPLE ARE USING LESS
ENERGY BECAUSE IT IS SO
EXPENSIVE PEOPLE ARE NOT
DRIVING AS MUCH.
I WOULDN’T WANT TO BE THE FED
CHAIRMAN BUT I AGREE WITH HIM
WE’VE GOT TO KEEP TIGHTENING
UNTIL YOU DRAIN THE INFLATION
OUT OF THE SYSTEM AND I
REMEMBER YOU TALKING ABOUT PAUL
VOLCKER, WHO MADE A KIND OF
FAMOUS STATEMENT THERE’S GOING
TO BE SOME BLOOD IN THE
STREETS, HE WAS SAYING THAT
METAPHORICALLY, THEN KEPT
RAISING THOSE RATES BUT WE DID
DRAIN THE INFLATION OUT AND
THAT STORY DID HAVE A HAPPY
ENDING, BUT WE HAD A 30 YEAR
BOOM IN THE ECONOMY AND A BOOM
IN THE STOCK MARKET, THE DOW
JONES IN 82 AT A LOW POINT OF
800, NOW 34,000.
NEIL: SOMETIMES IT TAKES 2 OF
THE 1-NUMTWO PUNCH, HE WENT
AFTER INFLATION, RONALD REAGAN
COMES ALONG WITH THESE
AGGRESSIVE TAX CUTS, FROM BUST
TO BOOM BUT ONE AFTER THE
OTHER, HOW THEY WORKED IN
TANDEM.
>> ARE REALLY IMPORTANT POINT,
ONE THING I WOULD LIKE TO SEE
OUT OF JEROME POWELL THAT HAD
BEEN THE PATTERN OF PAUL
VOLCKER AND GREENSPAN AND OTHER
FED CHAIRMAN OF LATE IS TO BE A
VOICE FOR HIS FISCAL SANITY AND
TO SAY THIS SPENDING $4
TRILLION, IF WE DO THIS INSANE
FORGIVENESS OF THE STUDENT
LOANS AND THE CHIPS BILL AND
THE BILL THEY PASSED FOR
HEALTHCARE AND $3 TRILLION
SPENDING LAST YEAR AND UNDER
TRUMP, TALKING FOR $5 TRILLION
WE PUMPED INTO THE ECONOMY AND
IF YOU KEEP DOING THAT -- IT
DOESN’T MATTER WHAT JEROME
POWELL DOES BECAUSE IT WILL
HAVE AN INFLATIONARY EFFECT.
WE’VE GOT TO HAVE SPENDING,
WE’VE GOT TO RAISE RATES BUT
BRING GOVERNMENT SPENDING DOWN
AND I DON’T SEE ANY INDICATION
THAT IS HAPPENING IN