Peter Navarro Blames Sinking Dow on Interest Rates: ‘Basically the Federal Reserve’s Problem’

EXCERPT:

NAVARRO: “Today, before the market opened, they had what’s called a mild yield curve inversion, which means a long term bond rate fell below the short-term rate. This is basically the Federal Reserve’s problem volatility. They are causing this because when Jay Powell got in his chairman he proceeded to raise interest rates by 100 basis points, too far too fast. And even though the Trump economy is rock solid, it slowed us down a bit because of those higher interest rates."

(h/t Mediaite)