As US equity markets continue to soar, manufacturing numbers look good and residential construction numbers look smoking hot, why exactly is the president's economic advisor calling for the central bank to slash interest rates by 50bps immediately? DOUBLE DOWN talks to Mish Shedlock of MishTalk.com who first takes a look at GDP and how that measure of the economy is counted or miscounted and, if it is miscalculated, can we really know whether or not the economy is booming. They next turn to the threats of negative interest rates should the markets collapse. Mish does not believe that the Fed will make the same mistake made by the ECB where negative rates have made the already weak banks in Europe even weaker than they were while US banks have been recapitalized slowly by lending to ‘excess reserves' to the central bank. Tune in to hear more.
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