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People were just taking off risk because they didn't know what was going to happen next and simply this week you had more sellers than buyers. it was a very simple mket dynamic that was going on. nothing fundamental alley was going on. you still have low unemployment in the united states, low unemployment in the euro zone a 10 year low going on there and global growth. we do have inflation coming up doesn't look like it's six to 18 months out before it manifests itself but that's nothing new. nothing has changed we just have right now i think selling go on because people don't know what they d...

Little higher. the question is how much is it going to slow down economic growth. the key to this president's policy is, with tax cuts and deregulations, getting economic growth going so fast and so far that it can cure other ills, like rising interest rates, and like a rising deficit because of these crazy bills they have in congress. if it affects growth. we're in trouble. if it doesn't, if the overwhelming power of the american economy overwelcomes all of the other problems, we're going to be okay. neil: you i don't, i can understand the president's frustration good news being interpreted t...

Hillary campaign was not given to the court and interestingly, when fbi director comey-- >> they were not aware of the source of this material, that it was a political, you know, agenda here? >> no, no, there was apparently a footnote, but it wasn't disclosed and also when comey met with president trump, he didn't tell him that it came from the clinton campaign and that might have ended the whole thing right then and there in january because trump would obviously have spilled the beans on that one quickly. this fact was concealed for a really long time until the republicans went to court on th...

Traders. what is going on? neil, we've wiped out and you just reported, market wealth, if two weeks time equal, more than what we lost in the dot-com blowout. neil: is that right? >> 1.8 trillion in wealth. what is going on? i think-- and david has done this reporting, too. we try to get a handle what is the market reacting to? there's really no inflation, there isn't. we'll get a inflation inflation next week. there's 3m, mcdond's and input. what we're seeing a government bond market crackup like a soap box derby crackup. when you see the u.s. 10-year yield higher than italy, higher than fran...

Neil: sometimes trying to cater to the beast that is the markets can be counter productive but what do you think of what's been going on with these markets and the nervousness over interest rates? >> well good to see you neil thanks for having me. i don't pay too much attention to short-term market moves. you've been watching the markets a long time and you know they go up and down and the last couple years i've been at the federal reserve i've been trying to assess the labor market. we keep declaring and thinking we're at full employment and then more americans come back into the labor force ...