On Thursday, Andy sat down with Neil Cavuto to discuss the potential government shutdown due to the House passing a temporary spending bill with more than $5 billion for added border security, interest rates spikes and a great deal of uncertainty among Americans.
“Our national security is at risk– what the president is doing is right. It may shake up the markets, but he still needs to do this,” argued Andy. “As far as interest rates, the Fed raised them eight times in the past 24 months, that is once every three months…They’re going up too fast, there have been too many increases. I’m not at all surprised the market’s reacting– I think it’s overreacting, but I’m not surprised it is reacting this way.”
Andy was also asked if President Trump is the cause for these circumstances. While Andy agrees that the trade deals with China will impact the market, he notes that it is not nearly as significant as the Fed’s raising interest rates too quickly. “If you look at the market before the Fed announced the interest rate increase and indicated it wouldn’t be as accommodative next year as people expected it would be, that is when you saw a huge drop in the market– the Fed is driving this,” said Andy.
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