Joining me now is satyam panday, Chief Us and Canada Economist at S P global ratings. Satyam, what are the key elements here that youre looking at that mean theres going to be a drag on growth . We are mostly focused on the consumer sector, we are mostly focused on the consumersector, like we are mostly focused on the consumer sector, like you mentioned in your opening statement. We are starting to see some Consumer Caution creep up, see some Consumer Caution creep up, especially given how the Labour Market has moderated, we have also seen the real Income Growth so often, and that means most likely moving forward, the same type of growth coming from Consumer Spending iS Probably going to be softer, and if you think about the Consumer Spending, you have to look at the taxes being collected state and local site, so the Upside Surprise we have seen from the state and local Government Spending is also going to be softened moving forward. Put it all together, it is the consumers that are going to make the economy come back to a trend of 2 growth in the coming quarters. Me trend of 296 growth in the coming quarters. Trend of 296 growth in the coming quarters. We are not talkin coming quarters. We are not talking the coming quarters. We are not talking the session, coming quarters. We are not talking the session, just talking the session, just talking the session, just talking moderating growth . Exactly, we are not talking recession. The Central Bank, the federal reserve, they are basically easing the next few quarters and that should help put support on the floor it here, but overall, we think it is still a soft Landing Case for the us. We will be moving down more towards 80 trend like growth, the risk around here is coming from those extraordinary political risks, maybe the election risk. But nothing from the economy itself. ,. ,. ,. , itself. Do you agree that it sounds like itself. Do you agree that it sounds like with itself. Do you agree that it sounds like with p itself. Do you agree that it| sounds like with P Morgan sounds like withjP Morgan chaseis sounds like withjP Morgan chase is jamie dimond saying he sees geopolitical risk as the big worry on the horizon, and one that is continuing to grow. That will be one of the primary risks right now, but again those are difficult to forecast, and it does create a bit of uncertainty both in the financial markets, as well in the real economy for businesses that are deciding, but i think that are deciding, but i think that would be the case. Are that are deciding, but i think that would be the case. Are you optimistic that would be the case. Are you optimistic about that would be the case. Are you optimistic about the that would be the case. Are you optimistic about the fed optimistic about the Fed Information Meeting its target . Yes, we are optimistic. By Mid Week next year we should get to 2 on average. The main issue is the price, once the Shuttle Price has moved down with the lag, Inflation Numbers should be closer to 2 . Shelter price. Turning to that Record Run for stocks. The S P 500 and the Dow Jones both hit Record Highs on tuesday. The nasdaq also ended the session in positive territory, despite that low reading on consumer confidence. It is just a short time since the Opening Bell rang and markets are little changed this wednesday morning. Can they continue that winning streak . Lets ask sean ohara, president of pacer etfs. Now that the Central Bank has begun to lower interest rates, what data are investorS Point most attention to . Jobs report next week or this friday at the preferred measure of inflation . I think a little of both. I think the fed cut primarily because they think most, if not all, of thejob is done on because they think most, if not all, of the job is done on the inflation front, but they are getting concerned about the job market. This whole exercise they went the route was to tamp down the negative effect of inflation. We are still in that face where there is a distinct possibility that we could wind up possibility that we could wind up and engineered a soft landing. The Inflation Numbers are important but i think the Jobs Number iS Probably more important because that will give you a reading as to what is going on in the economy. Kamala harris is going to make her pitch to voters on the economy today, yesterday we heard from donald trump. How much attention are investorS Painted this . I much attention are investorS Painted this . Painted this . I dont think investorS Painted this . I dont think investors are painted this . I dont think investors are paying painted this . I dont think investors are paying that l painted this . I dont think investors are paying that much attention yet. As we get closer to Election Day people will start to pay a little more attention. In the united states, we do have the potential to have a divided government where you could have one party that controlS Part of the government and the other Party Control Part of the other and that would create a gridlock. I am and that would create a gridlock. Iam not and that would create a gridlock. I am not sure people are rearranging their portfolios at thiS Point based on who they think will or not win the election. I think the most important part of this Election Cycle is whether or not the republicans can maintain control of the senate which would put a Stop Gap again some of what some might view as negative policy, that would affect the markets and individual investors. Yesterday we saw the individual investors. Yesterday we saw the ai individual investors. Yesterday we saw the Ai Darling individual investors. Yesterday we saw the Ai Darling nvidia i we saw the Ai Darling nvidia Helping The Nasdaq but more broadly markets hit another record high. Do you think even though they are unchanged right now, we are going to see another Record Today . Gosh, that is a flip another Record Today . Gosh, that is a flip of another Record Today . Gosh, that is a flip of the another Record Today . Gosh, that is a flip of the coin another Record Today . Gosh, that is a flip of the Coin Kind | that is a flip of the Coin Kind of question. The Ai Trade is real. Companies are investing massively, the Real Question is who are going to be the secondary beneficiaries . 0bviously Nvidia and the Chip Makers are the current beneficiaries of the revolution. Going forward my Chief Concern is if you look historically at Stock And Stock prices and future returns, whenever we are in an environment like right now, meaning they are paying higher prices for earnings, as you look forward to during those periods in the past, Equity Returns are somewhat muted. So i wouldnt be expecting 50 a year going forward from here, i would expect a little less than the average return, which might make getting the income on your Equity Portfolio most important because total return itS Price return plus the income in the form of dividends that you received a 15 . Form of dividends that you received a 1596. Form of dividends that you received a 1596. Thank you. Alwa s received a 1596. Thank you. Always good received a 1596. Thank you. Always good to received a 1596. Thank you. Always good to speak received a 1596. Thank you. Always good to speak to received a 1596. Thank you. Always good to speak to you. | now if you were watching us this time yesterday we talked about crowdstrike the Cybersecurity Firm that sparked a global Computer Crash that had huge implications injuly. You may well remember that thousands of flights were grounded around the world. Banks and financial services were hit. As was the national Health Service in the uk. So a Company Executive was called to account for crowdstrikes mistakes in congress. 0ur North AmericaTechnology Correspondent Lily jamali went along to find out more. How did such a massive error happen . That is what Lawmakers here on Capitol Hill were hoping to find out today. Members of congress had asked to question the ceo of crowdstrike george kurtz, but the company sent Adam Myers who didnt take questions on his way into the hearing room. What is your message for Lawmakers-today'>Lawmakers Today . Said he stared straight ahead, a Press Handler saying he would speak only with Lawmakers. He he would speak only with Lawmakers. He would speak only with Lawmakers. ,. , Lawmakers. He began with an aaolo. Lawmakers. He began with an apology we Lawmakers. He began with an apology we are Lawmakers. He began with an apology. We are deeply Lawmakers. He began with an apology. We are deeply sorry| apology. We are deeply sorry and determined to prevent this from ever happening again. The outaie from ever happening again. The outage occurred after a Rogue Software Update sent by crowdstrike disabled up to 8. 5 million computers using Microsoft Operating systems. Who made the decision to launch the update . Did ai who made the decision to launch the update . Did aldo who made the decision to launch the update . Did ai do that or an individual do that . Al the update . Did ai do that or an individual do that . An individual do that . Al was not responsible an individual do that . Al was not responsible for an individual do that . Al was not responsible for Making L an individual do that . Al was l not responsible for making any decision on that process. It iS Part of a standard process, we release 10 12 updates every single day. Now has your wallet like mine migrated to a corner of your bag for occasional use as the smartphone handles most payments and cards . Are you too young to know what a real Leather Wallet or purse is, or do you still carry one 24 7 . Banking industry data in the uk shows a majority of people under 35 make contactlesS Payments regularly with a Smart Phone or watch. So is the traditional wallet on the way out . 0ur personal finance correspondent, kevin peachey, has been finding out. Deep in the leicestershire countryside, this Barn Isnt Home to a trendy micro brewery, but a business thats much more rare in the uk a micro tannery. Out of these giant reclaimed drums come the beginnings of Quality Leather thats come from Deer And Goat skins that otherwise would have gone to waste. These big drums here are a bit like a large washing machine, basically. And inside these we tumble the hides and by The End of the process, weve got leather that we can turn into products bags, wallets, that type of thing. Those wallets are carefully crafted in a nearby workshop, piece by piece, One By one. But is there much point in all this Skill And Intricacy to create a Leather Wallet, when the majority of twentysomethings are using one of these, rather than cards and cash, to make their day to day payments . We do pay contactless on our phone, dont we . 0n the phone, yeah, yeah, yeah. So everythings in that, right . Pretty much. There are things that you need money for. Like, weve just been the barbers. So we do have cash for that, yeah. Yeah. Got a wallet, only get paid cash, so its all right. Its not too bad for us. We only take cash in here as well. I just use my phone, its much easier. I feel like cash i dont have cash any more. And if i do, itsjust in my bag in my change, or in my bag. Yeah. And never comes out . No, yeah, its going mouldy, probably do you still carry one of these or do you ever carry one of these . A wallet . A wallet, yeah. Of course, always. Prefer a wallet to, um, paying with your phone . Probably, yeah, id say so. Over the years weve seen demand for a classic wallet, so we designed one of those. And it always surprises me how many of those we sell. So for now at least, it seems many still want to carry the physical money to make our world go round. Kevin peachey, bbc news. The crisis at boeing rumbles on. The union representing thousands of striking boeing workerS Posted on Social Media to say they were not interested in the aviation giants latest pay offer. Aviation Expert Anita Mendiratta says its important for the whole industry that a resolution is found. The financial impact is enormous, we are looking at 100 150 Million enormous, we are looking at 100 150 Million a day in losses. This is on the 737 max which is the most cost effective low Emissions Aircraft that we have for the sustainability of the Aviation Industry in the future, so we need a deal and quite honestly the entire industry needs bowing to succeed with this. Airbus, the other part of the duopoly, cannot carry the extra deliveries. They are already falling behind in deliveries, so dearly hope this will be resolved quickly and we do need to back boeing and its new leader in being able to bring this to a peaceful result. Stay with us here on bbc news. Hello from the bbc sport centre. Well start with football, and one of the games Greats Rafael Varane has announced his retirement at the age of 31. The french World Cup Winner injured his knee last month on his debut for newly promoted como in serie a, and its forced him call time on his career. He won the Fa Cup with Manchester United last season, but the defender will be most closely associated with Real Madrid before that, a 10 year spell the Spanish Giants that saw him win 18 trophies including three La Liga titles and four champions leagues. He was capped 93 times for his country, winning the World Cup in 2018. Manchester united start their Europa League Campaign later. They face dutch Side Fc Twente at old trafford. Its the club where the united manager erik ten hag made his name as a player and then cut his teeth as a coach under Steve Mclaren at the time. Ten hag says he still has a soft spot for his former side and would rather not be playing them but knows the competition