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Breaking Down The Fed’s Mission As Trading Halted At Another Market Open | Velshi & Ruhle | MSNBC

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TURNS OUT TO BE, IT’S JUST GOING TO BE ABSOLUTELY DEVASTATING TO BE ABSOLUTELY DEVASTATING FROM TOP TO BOTTOM FROM TOP TO BOTTOM

>> JOSH, I’D LIKE YOU TO WEIGH >> JOSH, I’D LIKE YOU TO WEIGH IN HERE IN HERE OBVIOUSLY, THE FED CUTTING OBVIOUSLY, THE FED CUTTING RATES, THE MIND-SET IS MAKE IT RATES, THE MIND-SET IS MAKE IT EASIER FOR PEOPLE TO BORROW, EASIER FOR PEOPLE TO BORROW, BANKS TO LEND, BUT THIS IS MUCH BANKS TO LEND, BUT THIS IS MUCH MORE THAN THAT MORE THAN THAT >> YEAH, I DON’T THINK THE FED >> YEAH, I DON’T THINK THE FED THINKS IT’S GOING TO STOP A THINKS IT’S GOING TO STOP A RECESSION

RECESSION THAT IS NOT WHAT THE POLICY THAT IS NOT WHAT THE POLICY ANNOUNCEMENTS OF LAST NIGHT ANNOUNCEMENTS OF LAST NIGHT INTENDED INTENDED WHAT THE FED WANTS TO DO IS WHAT THE FED WANTS TO DO IS PLANT THE SEEDS, THE EVENTUAL PLANT THE SEEDS, THE EVENTUAL RECOVERY RECOVERY

BY PLANTING THE SEEDS I MEAN NOT BY PLANTING THE SEEDS I MEAN NOT LETTING SYSTEMIC ISSUES BETWEEN LETTING SYSTEMIC ISSUES BETWEEN BANKS INTERACTING WITH EACH BANKS INTERACTING WITH EACH OTHER, DOLLAR DEMANTD FROM ALL OTHER, DOLLAR DEMANTD FROM ALL OVER THE WORLD, NOT LEADING OVER THE WORLD, NOT LEADING THOSE GET TO THE POINT WHERE THOSE GET TO THE POINT WHERE THEY’RE SO BROKEN THEY CAN’T BE THEY’RE SO BROKEN THEY CAN’T BE FIXED FIXED THAT’S THE MISSION THE FED HAS THAT’S THE MISSION THE FED HAS NOW NOW THE ABSOLUTE LEVEL OF INTEREST THE ABSOLUTE LEVEL OF INTEREST RATES IS NOT THE POINT

RATES IS NOT THE POINT THE JAWBONING THEY SOMETIMES DO THE JAWBONING THEY SOMETIMES DO TO IMPROVE PSYCHOLOGY IS NOT THE TO IMPROVE PSYCHOLOGY IS NOT THE POINT POINT THIS IS ABOUT THE PLUMBING OF THIS IS ABOUT THE PLUMBING OF THE MARKETS AND I THINK THEY THE MARKETS AND I THINK THEY ACTED EARLY ACTED EARLY

I THINK THEY DID WHAT THEY HAD I THINK THEY DID WHAT THEY HAD TO DO TO DO A LOT OF PEOPLE ARE SAYING, OH, A LOT OF PEOPLE ARE SAYING, OH, LOOK, THEY SHOT THE BAZOOKA AND LOOK, THEY SHOT THE BAZOOKA AND IT DIDN’T WORK IT DIDN’T WORK NO, NO, THEY’RE NOT TRYING TO NO, NO, THEY’RE NOT TRYING TO INFLUENCE THE STOCK MARKET’S INFLUENCE THE STOCK MARKET’S OPEN THIS MORNING TO GO HIGHER

OPEN THIS MORNING TO GO HIGHER IT WILL WORK BECAUSE THEY HAVE IT WILL WORK BECAUSE THEY HAVE DEMONSTRATED THE WILLINGNESS TO DEMONSTRATED THE WILLINGNESS TO THROW EVERYTHING THEY HAVE AND THROW EVERYTHING THEY HAVE AND THEN SOME AT A SITUATION THAT THEN SOME AT A SITUATION THAT REQUIRES IT REQUIRES IT >> BUT THE PRESIDENT IS >> BUT THE PRESIDENT IS

JOSH, EXPLAIN THE 2,000-POINT JOSH, EXPLAIN THE 2,000-POINT GAIN ON FRIDAY GAIN ON FRIDAY WHILE THE PRESIDENT WAS WHILE THE PRESIDENT WAS SPEAKING, MY PHONE WAS LITTERED SPEAKING, MY PHONE WAS LITTERED WITH INVESTORS SAYING, SEE, THIS WITH INVESTORS SAYING, SEE, THIS IS THE PRESIDENT WE’VE BEEN IS THE PRESIDENT WE’VE BEEN LOOKING FOR FOR THE PAST THREE LOOKING FOR FOR THE PAST THREE YEARS YEARS HE BROUGHT IN SOME REAL GUYS TO HE BROUGHT IN SOME REAL GUYS TO TACKLE THE PROBLEM

TACKLE THE PROBLEM THAT WAS FRIDAY THAT WAS FRIDAY MARKET WENT UP 2,000 POINTS MARKET WENT UP 2,000 POINTS

IT’S ALREADY DOWN OVER 2,000 AND IT’S ALREADY DOWN OVER 2,000 AND WE’RE FOUR MINUTES INTO TRADING WE’RE FOUR MINUTES INTO TRADING >> YEAH, SO I WOULD SAY >> YEAH, SO I WOULD SAY AUTOGRAPHING THE FIVE-MINUTE AUTOGRAPHING THE FIVE-MINUTE CHART OF THE MARKET’S CHART OF THE MARKET’S PERFORMANCE ON FRIDAY WILL GO PERFORMANCE ON FRIDAY WILL GO DOWN IN HISTORY ALONG THE SAME DOWN IN HISTORY ALONG THE SAME LINES AT GEORGE W BUSH WITH THE LINES AT GEORGE W BUSH WITH THE "MISSION ACCOMPLISHED" BANNER ON "MISSION ACCOMPLISHED" BANNER ON THE AIRCRAFT CARRIER

THE AIRCRAFT CARRIER IT’S PRETTY MUCH THE SAME THING IT’S PRETTY MUCH THE SAME THING I THINK FROM A MARKET I THINK FROM A MARKET STANDPOINT, I DO BELIEVE THAT STANDPOINT, I DO BELIEVE THAT WALL STREET NOW THINKS THAT THE WALL STREET NOW THINKS THAT THE ADMINISTRATION HAS GOTTEN AS ADMINISTRATION HAS GOTTEN AS SERIOUS AS IT NEEDS TO SERIOUS AS IT NEEDS TO

DOESN’T MEAN THE TWEETS WILL GET DOESN’T MEAN THE TWEETS WILL GET ANY SMARTER AND IT DOESN’T MINE ANY SMARTER AND IT DOESN’T MINE HE WON’T STILL BE OBSESSED WITH HE WON’T STILL BE OBSESSED WITH THE STOCK MARKET THE STOCK MARKET BUT I DO THINK WALL STREET BUT I DO THINK WALL STREET THINKS THE ADMINISTRATION IS THINKS THE ADMINISTRATION IS ENGAGED ENGAGED THAT BEING SAID, THIS IS ABOUT THAT BEING SAID, THIS IS ABOUT SO MUCH MORE THAN WHERE THE DOW SO MUCH MORE THAN WHERE THE DOW JONES CLOSES AT THE END OF TODAY JONES CLOSES AT THE END OF TODAY OR TOMORROW

OR TOMORROW THIS IS LITERALLY ABOUT THE THIS IS LITERALLY ABOUT THE LIVELIHOOD OF MILLIONS OF LIVELIHOOD OF MILLIONS OF PEOPLE, MANY OF WHOM ARE NOW PEOPLE, MANY OF WHOM ARE NOW LOCKED INSIDE THEIR HOMES LOCKED INSIDE THEIR HOMES SO THE STOCK MARKET, I HATE TO SO THE STOCK MARKET, I HATE TO SAY THIS, AS SOMEBODY WHO SAY THIS, AS SOMEBODY WHO MANAGES MONEY FOR A LIVING MANAGES MONEY FOR A LIVING

THE STOCK MARKET IS SECONDARY TO THE STOCK MARKET IS SECONDARY TO THE HEALTH CRISIS THE HEALTH CRISIS THE GOOD NEWS IS THERE’S NO MORE THE GOOD NEWS IS THERE’S NO MORE DENIAL ABOUT THE HEALTH CRISIS

Source: Youtube

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