Northwest Iowa — Republican Presidential candidate Rand Paul was in northwest Iowa on Wednesday.
He is warning people that a stock market crash may be ahead because the Federal Reserve has kept interest rates from fluctuating.
(as said)”People say, ‘Oh, we can just do that forever,'” Paul said. “I don’t think so. I think there’ll be a day of reckoning.”
Paul, who made stops in Sioux Center, Okoboji, and Sioux City on Wednesday says “greed” probably didn’t cause the housing crisis in 2007. He argues keeping interest rates “close to zero” may have been the culprit.
(as said) “Right now we’re still keeping interest rates at zero and the boom isn’t in housing this time, but it may well be a boom in the stock market,” Paul said. “What happens when people come to the realization that we’ve maybe overinflated the stock market again?”
Paul, a first-term senator from Kentucky, says government shouldn’t be trying to “manipulate the marketplace” by clamping down on interest rates. Paul joked with the crowd in Sioux City that there were “55” Republicans running for the party’s presidential nomination and Paul argued he was best-positioned in that crowded field to challenge likely Democratic nominee Hillary Clinton.
(as said) “If we want to win as a party, we’ve got to figure out how to win Iowa — not just the primary. We’ve got to figure out how to win the General Election,” Paul said. “We lost Iowa twice to President Obama. We lost New Hampshire twice…Colorado’s another, Pennsylvania, Ohio. These are five states all won by President Obama and Republicans have trouble winning. Right now I’m the only Republican who beats Hillary Clinton in all five of those states.”
Paul’s Sioux Center stop was at their public library. His Sioux City stop was at Morningside College, and his Okoboji stop was at the Barefoot Bar.
Radio Iowa assisted with this story.
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