Ali Velshi Interviews Arthur Laffer
Arthur Laffer lying to Ali Velshi on low Fed Rates after the Great Recession actually were the cause of it.
Update: Paul Krugman explains Laffer’s bizarre monetary theory well before this interview:
The Trumpification of the Federal Reserve: In late 2015 then-candidate Donald Trump accused Janet Yellen, chair of the Federal Reserve, of being part of a political conspiracy. Yellen, he insisted, was keeping interest rates unjustifiably low in an attempt to help Hillary Clinton win the presidency. As it happens, there were very good reasons for the Fed to keep rates low at the time. Some measures of the job market, notably prime-age employment, were still well below precrisis levels, and business investment was going through a significant slump — a sort of mini-recession. Fast forward to the present. The employment picture is much stronger now than it was then. There are hints of an economic slowdown, partly because of the uncertainty created by Trump’s trade war, but they’re considerably fainter than those of 2015-16. And Trump himself keeps boasting about the economy’s strength.
But of course Trump insists we need to lower interest rate because??? And of course Art Laffer has to agree with his political master.