00:00Thank you very much. It's my great honor. Any questions, please?
00:03Mr. President. Yeah, please, go ahead. Go ahead.
00:07Mr. President, do you think that Fed Chair Jerome Powell should move on?
00:11I think he's done a bad job, but he's going to be out pretty soon anyway. In eight months, he'll be out.
00:18But he's, I call him too late. He's too late all the time. He should have lowered interest rates many times.
00:24Europe lowered their rate ten times. We lowered ours none. And it's causing a problem for people that want to buy a home.
00:31Look, our economy is so strong now. We're blowing through everything. We're setting records.
00:36You know that. You see that. And whether it's the Philippines or anyone else, we're setting records at levels that nobody's ever seen before.
00:43But you know what? People aren't able to buy a house because this guy is a numbskull.
00:49He keeps the rates too high and probably doing it for political reasons.
00:53It's the only time I remember him cutting rates. I mean, he cut the rates just before the election to try and help Kamala or whoever he was trying to help.
01:01He probably didn't know. And he's building a building. He's $2.7 billion. They have a $900 million overrun.
01:09What is that? And that was given by Biden. That was another Biden deal.
01:14And this guy's building this building that's severely overrun. And what does he need the building for?
01:20Why does he need he need space for more people?
01:22So they did a big study the other day and they called all of the great intellects and the great economists and all of the great everything.
01:30And they it was 71 and only two got it right me and another gentleman that happens to be very smart.
01:37Sixty nine people got it wrong and the Fed got it wrong more wrong than anybody.
01:42And, you know, he has these think tanks and they build they build buildings for people that think and it's really not thinking it's a little bit of combination of thinking.
01:51But it's it's something you sort of have or you don't have. They don't this this the job he's done is just terrible.
01:59He ought to raise interest rates. You know, we would we should be at one percent.
02:04We should be leading the world instead. We're paying four percent.
02:08And if you look at what that means, that's over a trillion dollars in interest that we have to pay that with the striking of a pen, we would be saving more than one trillion dollars.
02:20Is that right, Scott? Do you have anything to say about it?
02:24Yes, sir. I called yesterday and this morning for the Fed to do a big internal investigation to understand they're not their monetary policy, but everything else.
02:36The Fed has had big mission creep and that's where a lot of the spending is going.
02:40That's where why they're building these new or refurbishing these buildings.
02:45And I think they got to stay in their lane. And I think that the, you know, based on the way they cut rates last fall, they should be cutting rates now.
02:54It's inconceivable. I know the Fed very well that they can be spending two point seven billion to build a building.
03:01They don't do anything. They just, I mean, it's the greatest job. You show up one day, a half a day, you make a little speech.
03:08The economy is doing well. The economy is not doing well. We're going to raise interest.
03:11And he's got it wrong. That's why I call him too late. T.O.O. Too late.
03:15And it's really too bad. But it is affecting people that want to buy houses. And that shouldn't happen.
03:22And, you know, he should lower it. He should lower them. Those rates should be three points lower.
03:28That's what they should be. Three points lower. Maybe more than that.
