Fed-watcher Roberts says Powell, like high rates, isn't going away soon

Doug Roberts, chief investment strategist at the Channel Capital Research Institute — author of Follow the Fed to Investment Success — says he does not believe that President Trump will fire Federal Reserve chairman Jerome Powell, and that he also thinks Powell will continue to ignore the president's pressure to cut rates. Given recent numbers, Roberts thinks Powell and the Fed can wait longer before making any rate cuts, potentially holding off through both the July and September meetings before making a move. Meanwhile, he says that large-cap stocks will continue to be the play, with small-caps needing a rate cut to get out of the doldrums. In the Market Call, Bill Davis of Stance Capital and the Hennessy Sustainable ETF, talks about how current economic uncertainty is hurting the market, even as it has returned to record-high levels. Plus Todd Rosenbluth, head of research at VettaFi, picks a new, actively managed "dynamic value" fund as his "ETF of the Week."