Liz Claman went on the Daily Show last night to talk about how the markets are like a “wild night out” – and the chaotic swings we’ve seen this past week with the DOW dropping a historic 1175 points on Monday.
Additionally, on Monday, as the markets endured a massive selloff, FBN dominated CNBC during market hours (9:30a-4p) with 266,000 viewers to CNBC’s 260,000 total viewers.
See more on the wild exchange below
Trevor Noah: “You saw Sean Hannity for instance saying, no, the crash is because of Obama, because he didn’t raise interest rates I guess when he should have but the market going up is because of Trump, is it somebodies credit or somebodies blame? Or is the stock market really doing its own thing?”
Liz Claman: “Well let’s get something straight. The president does not raise interest rates. Something called the Federal Reserve, they’re the people who come together and decide what short term interest rates should be and should they go up. Well everybody kept them extremely low because we were in a crisis, we are not anymore. If you want somebody to blame, blame Bill Belichick…the big theme here is, as much as they would hate to believe this, Trump and Obama are on the same team.”
Trevor Noah: “If Donald Trump takes credit for what’s happening in America, how do you explain the fact that markets worldwide have been going up? Is this not just a trend in terms of stock markets?”
Liz Claman: “It is. And things are better in America right now. We did start to see a pick-up in growth, we see a little bit more confidence, the stock market has done well, people’s 401ks, I know a lot of you out there have then… that is a very good thing, but you should all expect that it will fall at a certain point because we see what are called corrections because you’re up at this unbelievable record high and then it falls 10 percent, and it feels horrible at the time, you need a Xanax drip, but calm down, it happens.”