Rick Santelli : Interest Rates Are Going Lower -- But Not Because of Fundamentals

Jim welcomes back Rick Santelli, On-Air Editor at CNBC, reporting live from the floor of the Chicago Board of Trade. Rick's focus is primarily on interest rates, foreign exchange, and the Federal Reserve. Rick discusses interest rates today, and notes that major central banks are destroying the risk premium and distorting markets. He sees much of the market volatility coming from distortions created by the central banks, not market fundamentals. He acknowledges that lower interest rates are great for borrowers, if you can qualify for credit. The dark side of Quantitative Easing by the Federal Reserve is that it penalizes savers and those living on fixed incomes.