FOR JOE BIDEN AND HE GETS 55 OF
SOUTH CAROLINA’S DELEGATES.
STUART: LET’S GET TO THE MARKETS
WERE LOOKING AT RED INK AT THE
OPENING BELL, JEROME POWELL
SPOKEN THE POSSIBILITY OF
CUTTING RATES THAT HE FOCUS ON
OVER THE WEEKEND THIS WAS ON 60
MINUTES.
ROLL TAPE.
>> WHY NOT CUT THE RATES NOW.
>> WE HAVE A STRONG ECONOMY,
GROWTH IS GOING ON AT A SOLID
PACE.
>> MOVING TO SOON WOULD SET OFF
INFLATION AGAIN.
>> YOU COULD OR YOU COULD HALT
THE PROGRESS.
IF YOU MOVE TOO LATE POLICY
WOULD BE TOO TIGHT AND I COULD
EASILY WAY ON ECONOMIC ACTIVITY
AND ON THE LABOR MARKET.
>> MAYBE EVERY SESSION.
>> WITH THE BALANCE OF TWO RISKS
RISKS.
>> FED WATCHING IS A FINE ART
THE RELIGION IN THIS COUNTRY
THESE DAYS.
JEFF SICA WITH US THIS MONDAY
MORNING.
LISTEN TO JAY POWELL, ARE WE
GOING TO GET EVERY SESSION.
>> WHAT AN EPIC NIGHT OF ENERGY
ENTERTAINMENT WITH JEROME POWELL
ON 60 MINUTES AND THEN THE
GRAMMYS.
AND SITTING FOR BOTH OF THEM
MADE LAST NIGHT A VERY MEMORABLE
EXPERIENCE FOR ME AND EVEN THE
CLIP YOU JUST PLAYED, I WATCH
THAT CLIP AND I WATCH THAT CLIP
OVER AND OVER AGAIN AND I KEEP
ASKING MYSELF, WHAT EXACTLY IS
JEROME POWELL TRYING TO
COMMUNICATE HERE BECAUSE WE GET
THE 11 INTEREST-RATE HIKES THAT
BRING US TO THE HISTORICALLY
HIGH INTEREST-RATE EMERGENCY IN
THE LABOR MARKET, IF YOU BELIEVE
THE NUMBERS ON FRIDAY WERE ON
FIRE AND KEEP IN MIND LAST WEEK
WE WERE CONVINCED THAT WE GET A
GET A RATE CUT IN MARCH, NOW OR
NOT NOW IT’S NOT QUITE HAPPY.
AS FAR AS WHEN IS THE RECESSION
GOING TO COME.
IF HE KEEPS RATES THIS HIGH FOR
MUCH LONGER HE WILL THROW US
INTO A RECESSION.
THEY CUT RATES HE COULD IGNITE
INFLATION.
HE IS A VERY TYPICAL TASK TODAY
AND I DON’T FEEL VERY SORRY FOR
HIM AND HE PUT HIMSELF IN THIS
POSITION AND PUT THE NATION IN
THIS POSITION BY KEEPING
MONETARY POLICY TO LOSE FOR TOO
LONG SO WE ARE ON THE PRECIPICE
OF A RECESSION BUT IF HE COULD
AVOID THAT BY STRATEGICALLY
CUTTING INTEREST-RATE.
STUART: HE COULD DO THAT BUT WE
NEVER KNOW WHAT IS GOING TO DO
ANY CAN’T SAY YOU’RE GOING TO
CUT RATES, YOU CANNOT SAY THAT
YOU GOTTA BE CONFUSING TO AN
AUDIENCE IF YOU’RE THE FED
CHAIR.
>> IS VERY GOOD AT DOUBLESPEAK
HE IS VERY GOOD AT PRETENDING
HE’S A HAWK WHEN WE ALL KNOW
HE’S REALLY A DOG.
STUART: ON THE ONE HAND AND THEN
THE OTHER HAND, IF THE FED
WATCHING HIS MINDLESS.
>> IF I WANTED TO BE BAFFLED AND
CONFUSED I WATCH JEROME POWELL
FOR 15 MINUTES AND I SQUANDER MY
EDUCATION, I DON’T KNOW HOW
THESE ECONOMISTS THINK.
HE IS THE MOST ROBOTIC GENERIC
PERSON I WOULD NOT BE SURPRISED
IF SOMEBODY PLUGS HIM INTO THE
NIGHTSTAND AT NIGHT BEFORE HE
GOES TO BED NOT HOW ROBOTIC HE
IS.
STUART: WHEN YOU HAVE AN ECONOMY
GROWING LIKE THIS WITH JOB
OPENINGS LIKE THIS VERY STRONG
EMPLOYMENT MARKET, I CANNOT SEE
RECESSION AROUND THE CORNER I
CANNOT SEE IT.
STUART: IF YOU BELIEVE THE
NUMBERS AND GRANTED THERE WERE A
LOT OF PART-TIME JOBS IN THOSE
NUMBERS AND A LOT OF PEOPLE
WORKING TWO JOBS.
IF YOU BELIEVE THE NUMBEGOING TO
ABOUT JEROME POWELL, IF YOU
BELIEVE THAT NUMBER IN THE LABOR
MARKET IS IN FACT THAT STRONG
THERE IS VERY LITTLE REASON TO
CUT INTEREST RATES EXCEPT THERE
IS SOMETHING ON MINUTES IN THE
FUTURE THAT HAS TO DO WITH THE
CREDIT MARKETS WHICH IS WHAT I
BELIEVE HE IS CONCERNED ABOUT IS
THE TIGHT CREDIT MARKETS AND
WHEN TO LOOSEN CREDIT TO TAKE
THE LOAD OFF THE BANKS WHICH ARE