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overheated economy. rising inflation, higher interest rates. here s what white house director mick mulvaney said this morning about inflation and the impact of this market correction. certainly there is a risk that interest rates will spike and there is a concern. i think what you saw last week when it started these wild gyrations in the stock market, keep in mind, chris, that spike we had last week was only the 99th deduction on a percentage basis. so even though that thousand points sound dramatic in the history of things, it s not that large a swing. i think what triggered that was not the fact we were overheating the economy, but the fact we were borrowing too much money. he says it isn t an overheating economy but that we re borrowing too much money. congress just passed a budget bill that will significantly increase the deficit, so how do you square these two? i think it s both, and i would put the tax cuts right, front and center in terms of that overheating market. a lot

White houseInterest ratesMarket correctionMick mulvaneyStock market99th deductionIsnt an overheatingTax cutsOverheating marketBudget bill