It's Time to Lower the Interest Rates

Episode Transcript

Speaker 1 (00:00):
Boston's Bulldozer operates seven days a week. The Kuner Report
Weekend edition WRKO, The Voice of Boston.

Speaker 2 (00:08):
Six one seven two six six sixty eight sixty eight
is the number. Okay, very quick, because I want to
go to the blazing phone lines six one seven two
six six sixty eight sixty eight if you want to
be part of the show. You know, great calls. By
the way, and the previous caller I thought made an
excellent point Tom in Wisconsin that you know, well, the

(00:31):
Supreme Court has ruled at technically the Federal Reserve and
the Fed Chair doesn't necessarily fall under the authority or
responsibility or purview of the president. Now I just sit
back for a second. How is this that you can
have a democratically elected president who then appoints his cabinet,

(00:56):
his financial team, and he runs on a specific economic agenda.
You know, in Trump's case, low taxes, tariffs, low regulations,
low interest rates. We know what he wants to do. Rise,
increase wages for middle working class Americans, unleash business creation, investment,

(01:22):
economic growth, private sector. He wants the private sector to
now drive this economy into the twenty first century and
really create as he put it an economic golden age.
So he's got all of these policies that he explicitly
campaigned on and that the voters gave him a full

(01:43):
mandate to implement, and it can be stopped by one man, unelected,
some bureaucrat who, by the way, I didn't know this normally.
I thought it was almost like a prerequisite for the job.
You know, get somebody who's a a qualified, trained, educated economist, right,

(02:03):
somebody who who knows the economy, both macro and micro. No,
not this guy. Apparently this guy's a lawyer, ta ya yai.
So one unelected, unaccountable bureaucrat can undermine a president's entire
economic agenda that he was elected to an act. It's insane.

(02:31):
It's insane. Now people are gonna say, I know what
you know? For example, like the show after this one,
they do a lot of finance, They're gonna say, I
know what the rebuttal would be. The rebuttal would be, well, no,
whoa You know? The Federal Reserve is essentially a central bank.
The head of every central bank is independent. They have
to be independent. They can't be susceptible to political pressure. Yes, okay,

(02:54):
I agree, but take the I'm just I don't want
to get too into the financial weeds here, but take
I know these two countries very well, Canada and England US.
They both have a central bank, Central Bank of Canada's
Central Bank of England, and they both have what's called
the Governor of the Bank, which is their equivalent of
the FED Chair. But if you look at the history

(03:15):
of Canada to this day, history of England to this day,
the heads of their central banks always work closely with
the government in power. In other words, their role is
how do I say this, like, Okay, we're there as
a check, as a potential break if the government really

(03:38):
enacts destructive policies. You know, if if these guys are
going to give us fifteen twenty twenty five percent inflation,
I'm just, you know, making up something. In other words,
these guys are just driving the economy into the ground. Well,
then I'm sorry, we're going to have to raise interest
rates to try to lower inflation because you guys are

(03:59):
going to wipe out the middle class. So the governor
of these banks, okay, for their version of the FED chair,
is not there to sabotage the government. They're not there
to stop or block the government's economic agenda. They're there
almost like, well, look, if they really make serious mistakes

(04:22):
and it's something that could jeopardize the economic stability of
the country, yeah, we're gonna have to take certain measures.
But that's as a backstop, as a last resort, not
as a first resort, not as a we don't care
what you guys want, We don't care what you were elected.
We're gonna do what we're gonna do. That's what Paul

(04:43):
is basically saying. They don't operate like that. For example,
I can tell you this, the head of the Bank
of Canada meets with the government, regularly meets with the
Prime Minister, meets with the finance minister. Their version of
the Secretary of the Treasury meets with that, and in
England the same thing. In other words, are we on

(05:04):
the same page, let's try to coordinate. So we have
someone now who's a saboteur. That's what Jerome Powell is.
He's a deep state economic saboteur. Now I could run
down country after country. I use Switzerland as an example.

(05:25):
Do you know that Switzerland has a zero point two
point five percent interest rate, literally a quarter of one percent,
a quarter of one percent, and their inflation is just
slightly lower than ours. So what I'm saying is, look

(05:47):
at what other countries around the world are doing. He's
keeping these rates artificially high, and he's using the tariffs
as an excuse. That's that's the only thing left he has. Well,
these tariffs are we still haven't factored in if they're
going to be increasing prices. I he cause inflation. Well

(06:09):
we've had him now for what four months? Five months? Trump,
by the way, announced a huge deal with Japan yesterday,
massive deal with Japan, something that people thought couldn't be accomplished, Indonesia, Vietnam,
They're all falling into place. And these are deals that

(06:30):
finally open up all of their markets to our goods
while they're accepting a tariff on their goods. So we're
going to level the trade field once and for all.
So no, everything they predicted, and this is what Powell predicted,

(06:50):
this is what Wall Street predicted, this is what the
media predicted, that Trump unleashing these tariffs would spark a
catashrph you fee on Wall Street that you would see
a stock market collapse didn't happen. Stock market all time
high that it would lead to a recession. In fact,

(07:11):
now it's the opposite. The economy now is really revving up.
It's time to lower the dam rates. And if Powell
won't do it, fire is ass.

Speaker 1 (07:25):
You're locked into Boston's bulldozer. The Kuner Report weekend edition,
The Voice of Boston WRKO