President Barack Obama left workplace greater than a 12 months in the past, however that didn’t cease Fox Information host Sean Hannity from blaming him for the inventory market slide.
On his Fox Information radio present on Monday, Hannity stated the market drop ― which at its worst noticed the Dow industrials plunge by practically 1,600 factors and shutting down 1,175 factors for the day ― wasn’t the fault of President Donald Trump.
It’s his predecessor that’s guilty.
“As a result of the Obama financial system was so weak all of those years, we had simply artificially low cost cash,” Hannity stated, referring to a Fox Information evaluation he had seen on the cable community.
He defined that “low cost cash” is from borrowing at “ridiculously low charges,” which he added should now finish.
“The federal government has artificially, the Fed has artificially, stored the worth of cash down and the worth of borrowing down, and now that’s going to return to an finish.”
Then, he declared that the plunge ― which noticed shares erase all their 2018 beneficial properties ― is definitely good.
“In some ways, it’s an indication of the power of the financial system greater than anything,” he stated in feedback posted on-line by Media Issues.
Take heed to the total clip above.