will will not accept. they say it s difficult to know where the white house stands at this point. we ve heard the white house tal about the $5 billion #be needed that. the big sticking point for the white house has been and remain to be wanting some sort of physical barrier at the u.s. mexico border. never a dull day at the whit house. thank you so much. qubit. the markets are closed for the holiday after the dhows worst christmas you drop ever which followed the presidents latest tweet storm attacking th federal reserve and questionabl moves by his treasury secretary. more on all of this commentary writer for the washington examiner merry christmas. merry christmas and thank yo for having me. we want to get to all of these things that the president just touched on moments ago. real quick, on that market slide . treasury secretary had some trouble today? so, obviously him coming out
a bad end to an awful week on wall street. the dow closed down, 414 points on friday. for the week, it fell 6.9%. that s the deepest weekly plunge since the recession in 2018. sources are telling cnn that president trump is blaming the federal reserve and higher interest rates for the market slide. he s even thinking of firing fed chairman jerome powell. cnn s politics and business correspondent christina aleshi has more. reporter: a brutal week in the market. dow and s&p on track for the worst december since the great depression, and worth nearly performance in a decade. selling began in earnest wednesday when they raised interest rates.
you re talking to somebody in the their 20s. they ve got close to 50 years to sock away money. if you re on the other end of this and you need to pull money out, you make those moves into safer investments. we can be in a bear market, a garden variety bear market down 20% in the major averages, maybe a little more. this could go on for a number of months before the repair work is done. we do need positive catalysts to get the market out of this funk. we need the federal reserve to stop raising rates. my personal bet is they re done. i would bet if we get a compromise of some kind that would relieve pressure on the market. we do need some progress on trade, and we will need to deal with burgeoning federal budget deficits. that s not an immediate problem, but we need to get these other obstacles out of the way. always a pleasure, thank you very much for stopping by. donald trump has been more than happy to take credit for the stock market when it s been surging, but the washington p
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any comment on the dow? well, that s because the dow plunged 1,175 points. at one point it was down nearly 1600 points. no matter which way you look at it, tfit was the biggest drop i history. it s 4.6% loss took away all the gains for this year so far for 2018. now it accelerated while the president wads spes speaking li. this is what it looked like on split screen. just continuing to go down. jeff, how is the white house responding to the market slide? the president is silent but the white house has opinibeen force comment. one thing we did not hear the president talk about in cincinnati is how good your 401(k)s and retirement plans are doing. that s become a sound track for most of the first year i m in