courtesy of a controversial chinese firm waterway. this is the w. business i'm joined now the milan in berlin federal reserve chairman jerome powell has boosted expectations for the 1st u.s. interest rate cut in a decade to be implemented later this month and testimony to congress how pointed to a broad global weakness clouding the u.s. economic outlook amid uncertainty about the fallout from trump's trade conflict with china and other nations president donald trump has been pushing paul to cut rates and has repeatedly said he has the power to fire the fed chair if he doesn't comply. our financial correspondent yan's court joins us now from new york to tell us and how did paul's comments go down on wall street. new records simple as that for the very 1st time ever the s. and p.