This is a series,

CVS, I in the world. I'm John Bachelor welcoming Joseph Sternberg.

He writes political economics for the Wall Street Journal

editorial page.

He's a member of the editorial board.

He's in London.

We're looking at the Federal Reserve,

now coming under scrutiny again by Wall Street because of the turbulence of these

last hours the great sell-off the global sell-off the great unwind many

metaphors cropping up for what's happened. Bloomberg, as of hours ago, reported

6.4 trillion wiped out in global selling. There is a recovery but that is traditional for recovery for

short covering and then we will see more turbulence is how historically it goes. However, Joe, a very good evening to you.

Thank you for this. Your most recent column focused on Jerome Powell, the chairman of the Federal

Reserve, and what will Pal do? Now we have the Wall Street, again

blaming Pal. He waited too long to raise interest rates and we got 9% inflation. He's

waited too long to cut interest rates and we've got 9% inflation. He's waited too long to cut interest rates,

and we have a global sell-off,

and a recession is sure to follow,

is the Wall Street traders opinion.

You have a wonderful metaphor in your new column, a cracked

crystal ball. How cracked Joe and and what can Powell do to repair it? Good evening to.

Hey John, I mean that crystal ball is very cracked and unfortunately I'm not sure

...