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This country where wall street is reflecting the actions of the white house and congress, perhaps in a bigger way than we have seen historically. can you weigh in on that? and sort of provide some clarity on what we're seeing in the markets today. >> to understand what is happening on wall street, and that is volatility, unsettling volatility and the worst december in history, you have to look beyond washington. yes, washington is an added factor, but there are three things going on. one, the global economy has become more uncertain. not because of the u.s. the u.s. is doing fine. but because ...

This country where wall street is reflecting the actions of the white house and congress, perhaps in a bigger way than we have seen historically. can you weigh in on that? and sort of provide some clarity on what we're seeing in the markets today. >> to understand what is happening on wall street, and that is volatility, unsettling volatility and the worst december in history, you have to look beyond washington. yes, washington is an added factor, but there are three things going on. one, the global economy has become more uncertain. not because of the u.s. the u.s. is doing fine. but because ...

Us to a higher growth platform. sandra: there's been a lot of talk about the president's open criticism of the federal reserve and i just -- i know you just mentioned the risk to the markets that the federal reserve poses with these interest rate hikes. the president's been critical of the hikes, saying the only problem our economy has is the fed. and he's been critical since he took office. it was a couple years ago, he said th fed is obviously not independent. how does that open criticism from the u.s. president, how does that affect markets? >> it's certainly unusual. i think even the fed i...

Understood, judging from what we've heard from the president of the new york fed. and then second, the fed has to realize that it cannot keep a really important policy tool on automatic pilot. that it needs to be more sensitive to what's happening. and i think that the fed can regain control and we can stop the self-inflicted wounds. sandra: do you think the president's criticism of jerome powell and his actions as the federal reserve chairman, are they warranted? >> no, i think the president has a point in saying fed, get a feel for what's going onioned the strict narrow domestic economy. i t...

This country where wall street is reflecting the actions of the white house and congress, perhaps in a bigger way than we have seen historically. can you weigh in on that? and sort of provide some clarity on what we're seeing in the markets today. >> to understand what is happening on wall street, and that is volatility, unsettling volatility and the worst december in history, you have to look beyond washington. yes, washington is an added factor, but there are three things going on. one, the global economy has become more uncertain. not because of the u.s. the u.s. is doing fine. but because ...