In his Talking Points Memo tonight, Bill O'Reilly reacted to Hillary Clinton officially launching her 2016 presidential campaign and her focus on the U.S. economy.

"She's a smart woman and a political creature," O'Reilly said. "Republicans would be foolish to underestimate her."

He explained that Clinton's strategy is to convince Americans that the economic system is rigged against working men and women.

"She is hoping to put together a coalition of people who want government to distribute money," O'Reilly asserted. "That's exactly the same thing President Obama wants."

"But if you are a fair-minded voter, someone who is looking for the best possible president, you must embrace the obvious," O'Reilly stated. "President Obama's economic policies have largely failed. Yet Secretary Clinton is endorsing them. Salaries for working men and women are lower now than when Mr. Obama took office."

"The Factor" host said that is because business is not expanding and good jobs are not being created. Despite that, he said, Clinton is running on the promise that she can manage the private sector.

"But as Hillary Clinton well knows, no president can regulate capitalism. And that's why communist and fascist governments have done away with it," O'Reilly said.

"Mrs. Clinton is perpetuating a ruse that the federal government can dictate who earns what in America. It can't."

Watch the full Talking Points Memo in the video above.

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