that no one else can. my first day at network, i was invited to a meeting to discuss how we were going to cover money. the first thing out of the producer s mouth. we don t want to talk about wall street or federal reserve or qe3. we don t want you to use elite language, speak to real americans. i said, this place is for me
that no one else can. my first day at network, i was invited to a meeting to discuss how we were going to cover money. the first thing out of the producer s mouth. we don t want to talk about wall street or federal reserve or qe3. we don t want you to use elite language, speak to real americans. i said, this place is for me .
with we want to have moderate increase in interest rates, but i think there are people that are edgy about if there were a sharp increase in interest rates that might cause a correction in the market bringing on a sequence of events. they re playing it very carefully here and understand winding qe3 carefully, and it s so far hasn t created any panic at all. so i think they re on the right policy and everything looks okay. bob, always good to talk to you. thank you for joining us to shed light on this. robert shiller, yale university, co-founder of case shiller nobel prize winner. coming up, paul manafort, rick gates back in court after being indicted. why their attorneys are arguing that their court-ordered conf e confinements should be lifted. we ll take you there live after
people are very kind to think that, well, people will gladly pay if it means everyone gets a little more money. doesn t work out that way. the consumer is very loud in terms of what they re willing to pay and not pay. that s why you have the theory of elasticity. in our industry, private label became a threat. one reason we don t have inflation now, despite qe3 and the money the fed sitting on their balance sheet is because there s no pricing power in industry and this becomes a cost to absorb, a cost to absorb means i have to reduce costs elsewhere. the easiest way is to reduce the amount of overhead, which is lay off people. the background for this we have soaring markets last year, businesses have improved their bottom line to the point where they re making some money now. i don t know whether that s boosed on booms business or cut
and the headlines. from everything from the libertarians saying audit the fed to liberals taking a close look at the rezbresive consequences of standard monetary policy, what do you make of the fact at this moment the fed has become a political football? i think that s a big worry. i think historically there s a reason you want to have an independent central bank. that s an important thing that i support. and i worry that the fed is in some ways without willingly doing so risking its own independence. when you get involved in things when you directly support the stock market, chairman bernanke in september of 2012 a year ago announced qe3 and he was saying, what it would do is push up stock prices and housing prices. i think there s going to be push back if this doesn t work out. it seems the perfect time for this documentary. the film is money for nothing opening in new york and d.c. tonight and then coming to a city near you. in other wall street news,