Paul Tudor Jones, founder of Tudor Investment Corporation and the Robin Hood Foundation, discusses his take on the Fed and markets on CNBC this morning.
Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid?
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Paul Tudor Jones: We have fiscal policy that's coming 'from another galaxy'
And then there's the Fed in all of this is expected to raise interest rates later this week. If you were running the Fed right now what would you do. I think rates would be 150 basis points higher right now that's is where they should be. We've got three point eight percent unemployment and negative real rates. And we have a 5 percent on the way to a 7 percent budget deficit. The last time that we had unemployment rate where it is now was 2000 and we were running a budget surplus at that time of 2.5 percent. We were talking about Bond scarcity at that time and now we have the exact opposite. So we've got fiscal policy that literally came from another galaxy and we have monetary laxity and that brew is what has got the stock market so jacked up. When you wake up you wake up at about 3 o'clock in the morning to check the London markets every morning. What are you thinking about over the past couple of weeks. What's been the the issues that have consumed you at that hour. Who at our I think the first thing I do is the first thing I do is I have I had this running debate where they're going to look at the prices first or look at map first because I'm always expecting some just thinking oh lord just please let this be a slow transition. Nothing dramatic. That while I've been sleeping something really bad has happened so sometimes I look at the prices and sometimes I go look straight up and also that's the first thing I do.
I'm thinking about that point time is. Has there been any significant change that out one anticipating from when I went to sleep. And it's a good day when there's no when there's nothing significant. Another time another thing they are always doing is particularly if you've got globalizations This is what economic releases have come out. They're going to be impacting your prices. So I'm always thinking about that.
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