David Fischer joins host Joe Messina for his regular appearance on The Real Side show to discuss the latest developments in the economy. This week, the Consumer Financial Protection Bureau names a new acting Director after the former director, Richard Cordray, stepped down. Also, the bond market bubble is about to burst, and the Fed plans to raise interest rates in 2018.
Consumer Financial Protection Bureau Names a New Acting Director
Listen to “The Real Side – Consumer Financial Protection Bureau Has New Director” on Spreaker.
David appears @ 19:40
– The Consumer Financial Protection Bureau has a new Director, Mick Mulvaney who was temporarily appointed by President Trump after the former Director, Richard Cordray, stepped down. This sparked a little bit of controversy as Cordray promoted his chief of staff, Leandra English, to become deputy director until the Senate could confirm a permanent replacement.
– David thinks the potential unraveling of the CFPB could prolong the bail-in he has warned aboutfor years.
– The bail-in, while pushed to the back burner with the new CFPB developments, is still a possibility with the amount of debt being added by the new budget.
– Unless the government cuts spending, the tax cuts won’t due much.
– David summarizes Fed rate hikes and the bond bubble which is probably going to burst in 2018. Gold and precious metals look to be the safe investment in reaction to this.