President donald trump says the cost is too small but fed chief Jerome Powell says its just what is needed for the Worlds Largest economy. Some had expected more from the u. S. Federal reserve and want the Central Bank Head to room poll held his own and lower the benchmark Interest Rate by 25. 00 basis points todays decision to lower the federal funds rate target by a quarter percent to 1. 75 percent to 3 percent is appropriate in light of the Global Development or mentioned as well as muted inflation pressures as expected u. S. President trump was quick to react to the decision he tweeted jay powell and the Federal Reserve fail again no guts no sense no vision a terrible communicator. Trump recently called for the Interest Rate to be lowered to 0 percent he wants to prevent an economic slowdown in the lead up to the president ial election next year but the economy is doing well the Unemployment Rate is very low at 3. 7 percent the u. S. Economy has continued to perform well we are into the 11th year of this economic expansion and the baseline outlook remains favorable the economy grew at a 2 and a half percent pace in the 1st house half of the year. But theres still the ongoing trade war with china and the looming breaks that headwinds for the u. S. Economy from abroad. For more im joined by ranko berridge head of Market Analysis at one exterior up in london good to have you with us from your perspective has the feds done all it could to cushion the u. S. Against those headwinds from abroad. I think the 1st thing we have to say is that the most important headwinds facing the u. S. Economy and not from a board from the white house the 2 reasons that growth in the United States is slowing as firstly the fading effects of fiscal easing in 2007 change or trying to text cuts and the 2nd of course is the us china trade war so those of both coins growth in the United States slowed now the fed would respond to that slowdown by easing Interest Rates something 50 basis points this year on the whole that is enough to respond to the current trial thats facing the u. S. Economy some members on the phone see argued for another 25. 00 basis points and we probably will see another 25. 00 basis points this year but unless the u. S. Trying to trade war escalates and the u. S. Economy deteriorates much further we wont see any more easing than that because probably wont be necessary so what youre saying that the feds decision yesterday was aggressive enough in order to keep the u. S. Economy healthy. The fed wasnt seeking to be aggressive actually because in their estimation of the economy growth is going to settle at about 2 percent annual real g. D. P. Growth and inflation is going to sustainably converge to target over the next 2 years and at the moment looking at us data the labor markets for strong inflation really not far from target its difficult to avoid that conclusion that the u. S. Economy doesnt need aggressive Interest Rate cuts im despite what President Trump is arguing quite aggressively i what about those concerns that exist about you as a quiddity which forced the fed to increase the amount of short term funding available for the very 1st time since the financial crisis in 2008 that sounds worrying. Yeah it does certainly look very worrying on the surface the feds approach to the shortage in overnight liquidity at the moment is to view it as a technical issue and as a technical solution in the feds perspective it was true true transitory factors named. We Corporate Tax payments and also extra treasury issuance these things are temporary so the feds perspective what its able to do is provide temporary overnight liquidity operations which is where the storm at the moment and then allow the Balance Sheet to grow organically to bring Bank Reserves up and improve that liquidity situation so from their perspective its not a serious indicator of mccray comic strips as in the past for example in 2008 shortages and other like overnight liquidity were all right drunk berridge they head of Market Analysis and money makes europe thank you so much for your assessment. Of Japan Central Bank has her also made a decision on Interest Rates on like the fit its decided to leave things as they are for now at minus 0 point one percent the short term lending rate is already ultra low a country the worlds 3rd biggest economy has launched an ambitious Stimulus Program in a bid to get inflation up and spur growth but so far progress has been slow affect the bank blames on a quote deflation mindset its of a more lets bring in our Financial Market correspondent day in frankfurt it. Might as Interest Rates that sounds familiar we have Something Like that in the euro zone as well in japan it doesnt work why not change it. Well monica its not easy and its easier said than done because i mean you have to consider the impact on the yen which is already strong in exports and at a time when japan is facing severe headwinds from outside u. S. China trade war slowing economy and its an export oriented economy and it also its also having its own problems with south korea so it is the difficult but having said that yes the ultra low Interest Rates havent really had the desired results not only in japan also here in the euro zone inflation has not been responding unfortunately to Economic Growth where the law unemployment or even village growth and thats been a problem for all the Central Banks and thats why in my view druggy did say that its up to the governments now to actually take it forward and help inflation come above the target of 2 percent or so. Monday in frankfurt thank you. As the breaks a deadline of october the 31st comes close voices vestments a to find a solution a getting louder philips Prime Minister in hand french president marco i agree to that the u. K. Has until the end of september to set out a break supplanted the e. U. Adding if not quote but its over meanwhile the federation of German Industries warns britain is playing with fire. Increased unemployment slowing trade businesses going bust supply bottlenecks and a weaker economy german business lobby the b. T. I. Paints a gloomy picture of what a disorderly brecks it could look like investments in the u. K. Has already waned and companies are spending billions preparing for britain to crash out of the u. Despite that provision the b. T. I. Is still anticipating the worst the no deal scenario is the worst Case Scenario that we have been preparing for for more than 3 years now and we never hope that this is coming true but at the moment it looks like this worst Case Scenario is the one only scenario that will happen even so you that p. D. I. Isnt keen on the idea of extending the brics it deadline beyond the end of october has some politicians in london want to prolong it this far as already brought enough cost and uncertainty in our opinion can only be an extension when it is connected with the target why do we need an extension what for perhaps for a general election or even a new referendum there are parties in westminster arguing for both. Strongly urge that the politicians in london to come up with new suggestions how to solve backstop issue or how to accept their Withdrawal Agreement which would be good for businesses on both sides of the channel wherever the brics it saga goes next to b. D. I feel is the damage is already considerable and can only get worse for germany and europe for most of all for the u. K. Itself. And now to some of the other Global Business stories making news. A Japanese Court has found 3 former tepco executives not guilty of professional negligence for their own and the 2011 Fukushima Nuclear disaster its the only criminal trial related to the meltdown which continues to keep tens of thousands of people from their homes because the lingering radiation. Austrias parliament has voted to reject the plan to move costs or trade deal between the e. U. And south american nations its not the only countries who voiced concern about the intended agreement both france and ireland have threatened to block if israel or if brazil does not to do more to protect the amazon. They call it so the gig economy a free market system which runs mainly on temporary jobs california has just signed a new labor legislation to protect right share drivers at companies such as lift the economy also exist here in germany mostly in the brave new world of mobility. The clock is ticking abdullah has around 30 minutes to clean each automobile he services car sharing vehicles all around berlin the customers might just use the cars for a few minutes but when they do the car has to be spic and span. Yellow stuff here is for the summer to clean the cars exterior this years glass cleaner and this one is all purpose cleaner. The headquarters in stuttgart determines which cars have to be cleaned they use an algorithm as the companys boss ive done a home it explains to us in a skype conversation. Probably that there are various parameters for example when was the car last claimed if more than 30 days have passed more than a 1000 kilometers have been driven or 15 to 20 bookings have been made if any one of these is triggered a cleaning order is generated. I mean get its. Workers known as shepherds take care of every vehicle in their fleet almost every day they maintain electric bicycles for a danish bicycle rental company donkey republic the shepherds can see which bike needs a new battery on their smart phones. Here are the hogs all over the city and we have found a nice rack to find these bikes and for example these vice called meal i go look for this by name and its way more easy to find and. Mike and i have done our full time employees but there are numerous Small Businesses which service the fleets of vehicles own by vehicle Share Companies but they work without any Social Security theres never a guarantee of enough orders its a thorn in the science of workers unions. And its basically about how i deal with working people and of course no one is forced to do these jobs its hard work its night work and its very poorly paid but obviously there are people whether they are students and whoever feels like doing this kind of work exist in their distant. Im dumb a is almost done he snaps a few photos so that everything is documented he sends to pictures to the headquarters with his smartphone then hes off to the next. Of his 10 cars a day. Out as you Business Update me on the team thanks for watching. Call me a coward superhero 6 my mission is clear. And. Explore germany. And. Everything else theres a lot going on in the fall probably try to stay. True. To w. X. Welcome to the what is the game here or do the fixtures talk about a. Bridge thats. Next least suggests. The game. Hello and welcome to arts and culture were in the throes of the literature festival here in berlin and well find out more about top african author Chimamanda Ngozi adichie also coming up its back our intrepid baker and europe correspondent bjork matas returns with his baking bread series and hell be here in the studio. But we begin here in berlin at the annual literature festival which is a platform for presenting contemporary developments in all forms of the written word writers and academics from around the world come to the festival as well as of course the literature public the nigerian author Chimamanda Ngozi adichie is one of the top African Writers around today and we met up with her at the festival. To present is enough to feel the holes like use the literature festival entirely Chimamanda Ngozi adichie is greeted. As one of the great voices of prudence richer is also a feminist icon. And really just the right you know i want to stay home and write poetry and dream