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    Former Fed chief Paul Volcker says the US economy is in 'a hell of a mess': report

    Former Fed chief Paul Volcker says the US economy is in 'a hell of a mess': report

    Former Fed chief Paul Volcker says the US economy is in 'a hell of a mess': report
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    By CNBC-TV18  IST (Updated)

    Talking about the current economic conditions of the US, Paul Volcker, former Federal Reserve chairman, says it is "a hell of a mess in every direction."
    "At least the military still has all the respect. But I don't know, how can you run a democracy when nobody believes in the leadership of the country?," Volcker said in an interview with CNBC anchor and The New York Times Columnist Andrew Ross Sorkin.
    Volcker focused on the monied interests that are crippling the governing system. "There is no force on earth that can stand up effectively, year after year, against the thousands of individuals and hundreds of millions of dollars in the Washington swamp aimed at influencing the legislative and electoral process," he said.
    Volcker is also unhappy with the Fed and said that the presidents have not tried to influence interest rates before the election, the report said.
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