In an interview to appear tonight on FOX Business Network’s (FBN) CAVUTO (8PM/ET), Austan Goolsbee, Former Chairman of the Council of Economic Advisors to President Obama, speaks with anchor Neil Cavuto about the stock market. Goolsbee said, “I think that one major contributor to the rise of the stock market has been the unprecedented rise of corporate profit.”
Excerpts from the interview are below.
On the rise of the stock market:
“Personally, I think that one major contributor to the rise of the stock market has been the unprecedented rise of corporate profit, so it’s at least in significant portion tied to fundamentals, but to the extent that people just say, we can’t survive unless the government bails us out and you saw some of the banks going down when the government in Dodd-Frank puts in supervisions that try to deal with ending Too Big to Fail type concepts.”
