Rep. Jeb Hensarling, the Republican from Texas and chairman of the House Financial Services Committee, said Tuesday the decline in stocks in recent days was an “ironic, but totally predicable” response from Wall Street to the prospect of losing “artificially low interest rates.” Low rates only benefitted “some on Wall Street but they haven’t been particularly helpful to Main Street,” Hensarling said. The chairman said the economy was “strong and getting stronger” under President Trump’s economic policies. “We’ve always known the Fed would face significant challenges in unwinding its balance sheet when the economy took off,” Hensarling said. “If you’re listening – good luck [Fed] Chairman Powell – you volunteered for the job,” Hensarling added.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News