Wilbur Ross: Fed Policy Is Misguided and 'Plain Wrong'

The transcript discusses the Federal Reserve's interest rate policy, suggesting it may be influenced by political motives, and critiques its impact on asset prices and inequality. It also covers fiscal policy and tax issues in the context of the election, focusing on Donald Trump's stance on carried interest and tax cuts for LLCs and partnerships. The discussion extends to the death tax, arguing it unfairly penalizes family-owned businesses and wealth transfer, reflecting a populist anti-wealth sentiment attributed to Hillary Clinton.

What is one of the main criticisms of the Federal Reserve's current policy according to the speaker?

• It has decreased asset prices.

• It has effectively reduced inequality.

• It has boosted asset prices and increased inequality.

• It has successfully stabilized the economy.

What is the primary focus of the second section regarding economic policy?

• The importance of monetary policy.

• The role of taxes in fiscal policy.

• The impact of international trade agreements.

• The benefits of low interest rates.

What change does Donald Trump propose for the tax on carried interest?

• Eliminating it entirely

• Increasing it to 33%

• Maintaining the current rate

• Reducing it to 10%

According to the speaker, what is the potential impact of the death tax on family-owned businesses?

• It will have no impact.

• It will force many to liquidate.

• It will reduce their tax burden.

• It will help them grow.

What is the speaker's opinion on the death tax?

• It is a fair way to redistribute wealth.

• It is beneficial for family businesses.

• It is a necessary source of government revenue.

• It is a populist anti-wealth concept.