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COPYRIGHT 2005 FDCH e-media
Original Source: YOUR WORLD WITH NEIL CAVUTO
CAVUTO: Anyway, high fuel costs driving the airlines to extreme measures and fears of inflation have had the maestro act yet again. For the seventh consecutive time, Fed chairman Alan Greenspan took control by raising interest rates another quarter of a percentage point.
Well, my next guest says that the Fed is out of control. With us now is Richard Salsman. He is the president and chief market strategist over at Intermarket Forecasting.
You`re not a fan of old Al`s.
RICHARD SALSMAN, PRESIDENT/CHIEF MARKET STRATEGIST, INTERMARKET FORECASTING: I`m not. He`s out of control. But more importantly, the Federal Reserve is out of control.
CAVUTO: What do you mean?
SALSMAN: They should not be raising interest rates.
CAVUTO: Why not? There`s inflation.
SALSMAN: Inflation is not fought by higher interest rates. You can ask any researcher at the Fed this. The CPI rate...
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