The Fed is, the Federal Reserve is totally out of touch with reality. If you look at the global interest rate spread right now we're at at 4:25, 4.25 in the interest rate, okay, Europe is more than 200 basis points lower than we are [in interest rates]. Japan's 4 times lower, China's 3 times lower. Now that, that dog won't hunt for the American people because it creates all sorts of problems here. (17:12–17:31)
CLAIM
Asserts that European interest rates are more than 200 basis points lower than U.S. rates.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
