Steve Forbes: The Fed is Part of the Problem, Not the Solution

Forbes Media Chairman Steve Forbes, J2Z Advisory Principal’s Jay Pelosky and RBC Wealth Management Senior Vice President Reva Shakkottai on the U.S. economy, the Fed’s interest rate decision and the markets.

During an interview on the FOX Business Network, Steve Forbes blasted the Federal Reserve, saying it is “part of the problem, not the solution.”

“The Fed may be the only game in town, but it’s been a destructive one,” Forbes told Trish Regan. “No one asked the question why after seven years of zero interest rates we still have this punk economy. And why do small businesses still have a hard time getting credit? What the Fed has done is like bleeding an anemic patient.”

With presidential campaigns continuing across the country, Forbes cited the economy as the big issue facing candidates.

“The economy is critical,” he said. “We now learn that in 2014 median incomes in America fell once again. This in the sixth and seventh year of a recovery, so the economy is punked… and the Fed is part of the problem.”