Hedge fund manager and investor Mitchell Feierstein told Newsmax on Thursday that the “partisan” Federal Reserve needs to cut interest rates so that the economy doesn’t “choke.”

Feierstein said on “Wake Up America” that he thinks the Fed is basing its decisions on something other than “the dual mandate of full employment and price stability,” and called it “a huge problem for the economy.”

“The European Central Bank has cut interest rates eight times and we’ve cut interest rates three times,” he said. “When they cut in September 50 basis points, it was purely political to try to help the Democratic Party.

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