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The Mark Simone Show

Mark Interviews Economist Steve Moore.

The Mark Simone Show

iHeartRadio and Mark Simone

News

4.3695 Ratings

🗓️ 19 September 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

Mark interviews Economist Steve Moore. Mark and Steve talk about the latest Fed Rate cut of half a point. Steve explains if you want to lower prices and inflation, you need to lower the tax rate, not the interest rates. The Fed's next meeting is right after the election.

Transcript

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0:00.0

Oh, we found Steve Moore. Oh, I lose my bet. Oh, my God. Anyway, Steve Moore, we always bet on whether we're going to find you not. But great to have you with us.

0:11.0

Hey, by the way, he runs the best website, and you should sign up for the daily email blast.

0:17.0

It's the best bunch of stories and the finest analysis. It's unleashedprosperity.com, right? Yes, Mark, great to be with you. Thank you for having me. All right. Hey, let me just ask you about this federal rate cut. People think Fed cut problem solved. You can't rate cut your way out of trouble, can you? No, you sure can't. It would be wonderful if you could, couldn't it? All we had to do

0:38.7

is just print money and lower interest rates and everything would be just fine. But the problems with

0:42.6

the economy right now are not monetary, primarily. I mean, we did have big monetary problems two

0:48.2

years ago when the inflation rate hit 9%. But the spark plug for all of the problems we've had for the

0:53.8

last three and a half years

0:54.7

was really the massive government spending spree of $5 trillion launched by Biden and all paid for

1:02.0

by printing money. And so if you want more growth, you've got to cut tax rates, not interest

1:08.6

rates. You've got to cut government spending and spending in debt.

1:12.7

I want to make another point, Mark, though.

1:14.5

I do think that this was a blatantly political move by the Fed, by Chairman Powell.

1:21.8

To do this 50 days before the election, I think is election interference.

1:27.7

I really do.

1:28.8

By the way, Mark, do you know when the next time the Fed meets is?

1:33.7

January?

1:35.1

The day after the election.

1:36.7

Oh.

1:37.8

So why couldn't they have waited until then?

1:41.8

You know, why do this?

1:42.7

Why put your thumb on the scale in this political race,

1:45.9

which is one of the most, you know, important races in our country's history? So I'm angry about it,

...

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