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The Fed is Catering to the Big Banks

Original air date: September 21, 2015

Todd "Bubba" Horwitz on Liberty Talk FM - Image Rotator Photo

BY: Todd Horwitz, Host & Senior Contributing Analyst
PUBLISHED: September 21, 2015

The Commodity Prices Continue to Fall.

Today, on The Bubba Show, Todd comments on the Fed’s latest non move. He feels that the Fed is not moving in the right direction, he notes that they do not run the Fed like a business and that is a problem when they are trying to run an entire economy.  He mentions that he believes that the Fed is catering to the equity markets and also the big banks.

Bubba comments on the Maria Bartiromo show last Thursday that he was confident that the Fed will not raise interest rates. Bubba and Maria discuss why interest rates are where they are. Bubba states that the Fed should have raised rates years ago. The problem is that the banks advertise that they will lend money but the truth of the matter is they will only lend to people that don‘t need the money. 

Bubba introduces Mike McGlone from ETF securities. Mike comments that the Fed didn’t tighten because there is no reason to take rates higher. The U.S has no threat of inflation; in fact the real threat is deflation. Commodity prices are in their biggest losing streak in forty years and that is not when you want to raise rates. Mike notes that the S & P 500 made a head fake to the upside and then sold off, he is bearish.

Bubba asks Mike if he can see a QE IV on the horizon. He comments that he hopes the Fed doesn’t go there. He feels the best way to end this is to allow equities to seek their own level. Mike feels that the Fed needs to stop tampering. If the S &P finds equilibrium in the 1500 area then that is where they need to let it go. He believes the tampering has gone on long enough.



About Mike McGlone

Michael McGLone PhotographMike is Director of US Research at ETF Securities. In addition to writing the ETF Securities Precious Metals Weekly and his other research and strategy responsibilities, hes a frequent guest on CNBC, Fox Business News, and Bloomberg. Prior to joining ETF Securities, Mike was the Product Manager and head of commodities at S&P Indices where he led the development and oversight of the S&P Goldman Sachs Commodity Index.

[ETF Securities – website] • [Follow Mike on LinkedIn]

About Maria Bartiromo

Maria Bartiromo Photograph Maria Bartiromo is an American television journalist, magazine columnist and author of three books. She is host of Mornings with Maria and is Global Markets editor at Fox Business Network as well as the host of Sunday Morning Futures with Maria Bartiromo on the Fox News Channel. Bartiromo is a native of New York and attended New York University. She worked at CNN for five years before joining CNBC television. On November 18, 2013, it was reported that Bartiromo would join Fox Business Network and Fox News. At CNBC, she was the anchor of the Closing Bell program and the host and managing editor of On the Money with Maria Bartiromo and is credited for becoming the first reporter to broadcast live from the floor of the New York Stock Exchange. She has appeared on various television shows and been the recipient of various journalism awards including being inducted into the Cable Hall of Fame she also hosts Fox Business Global Power Players segments..

[Follow Maria on LinkedIn][Follow Maria on Twitter] • [Maria Bartiromo’s Website]

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Todd Horwitz began his career in the financial industry as an option market maker at the Chicago Board of Options Exchange in 1982 and was one of the founding traders in the SPX pit. He is an active member of the am currently a member of the Chicago Board of Trade.