Deirdre Bolton, Fox Business, Released on 5/20/16

David Stockman, former director of the Office of Management and Budget under President Ronald Reagan, explains why he believes the economy has taken a down turn and how interest rates affect the market.

David Stockman is a former Republican congressman from Michigan and was President Reagan’s budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman’s Contra Corner, and he is the author, most recently, of The Great Deformation: The Corruption of Capitalism in America.

  economy, finance, investing