Economist Art Laffer: I don't understand why Fed remains independent

Art Laffer, chairman at Laffer Associates, joins 'Squawk Box' to discuss Trump's economy and the Fed's next move.

[pinyaposka]

Art Laffer did not forsee the 2008 crisis having stated many times in 2006, 2007 that US economy is spectacular and yet apparently he is an 'expert' on the economy???Give me a break

[raymeyers]

Laffer owes Peter Schiff money. Peter Schiff was right

[petemac]

Hey Art! You still owe Peter a penny and a letter.

[oscarrmelchor]

Give Peter Shiff the penny you made the bet and lost!

[jfausset]

The Fed is independent because it is privately held by anonymous shareholders. They have the power to print money and set interest rates. No conflict of interest or nefarious activity there. 😂

[jorgeponce]

THE FED EXISTS,
1st As lender of last resort for TBTF institutions during financial crises that bankers themselves create,
2nd To pre-emptively bail out TBTF banks via rounds of QE, that strengthen their balance sheets with excess reserves by the Trillions, so that TBTF banks can meet Basel III Liquidity Coverage Ratio and High Quality Liquid Assets (HQLA) needs,
3rd Monetary policy, controlling inflation, and promoting economic growth - all of which come a distant 3rd in term of priorities.

[CeBePuH]

Trumps knows and says: cut 50bps. Then the market catches up and says: cut by 50bps. Then the Fed slowly will cut by 50bps.

[constantinmilitaru]

So the federal government can’t make the federal reserve a federal agency and make all notes US Government notes….

[Zickafoose]

military spending is controled by a democracy? Hahahha

[r]

I am sure he would have said the same thing if a dem was in office. Ya let democracy control the money printer, i am sure this had never led to any problems in history

[tonycodolo]

With this fool advising the President, no wonder we are in such bad shape.

[jorgeponce]

Notice how this video has been difficult to find in YouTube. HILARIOUS. Criticism of the Fed is punishable. So, don't get yourself named Abraham Lincoln (1865), James A. Garfield (1881), William McKinley (1901), or John F. Kennedy (1963).