Well i dont know maybe they dont mean. I will go down a great. Part. Around one. Route. This is the one business show you cant afford to miss from bridgeboro in washington coming up the Federal Reserve has spoken and now its a plan to hold rates steady as the u. S. Economy is slowly bell. Think back straight ahead we think an indepth look at the moves of the nations central bank has the future of volatility in the wake of copan 1000 remains uncertain gold has seen a spike in value as investors flee to safe haven assets but what does the future hold but well get into that with a packed show today so lets dive right in. The Federal Reserve held another policy meeting wednesday as part of an effort to determine where to go with u. S. Interest rates and what it will take to get the economy moving again overall there was some positive news as members of the Federal Reserve board upgraded their forecast for the economy to show a smaller contraction in Gross Domestic Product and a lower Unemployment Rate this year fed chairman drone powell spoke about the outlook following the meeting. The recovery has progressed more quickly than generally expected and forecasts from a forum see participants for Economic Growth this year have been revised up since our june summary of economic projections. Even so overall activity remains well below its level before the pandemic and the path ahead remains highly uncertain with regard to Interest Rates we now indicate that we expect it will be appropriate to maintain the current 0 to one quarter percent target range for the federal funds rate until labor Market Conditions have reached levels levels consistent with the committees assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time in addition over coming months we will continue to increase our holdings of treasury securities and Agency Mortgage backed securities and least at the current pace. But where will unemployment Interest Rates and the economy go from here well joining us now to discuss that are blue bus cohost and investigative journalist ben swan and former fed insider and c. E. O. Of Quill Intelligence danielle de martino both thank you both for joining us today now danielle i want to start with you here it seems like chairman powell really had to thread the narrative needle here he didnt want to downplay growth in the economy but he also didnt want to dissuade congress from getting involved is that a correct assessment of what the the chairman was saying today. It really is you know weve got 2 parallel economies right now we did get nearly 30 minute 1000000 americans collecting Unemployment Benefits in some form and here we have we actually have rental evictions that are proceeding we have foreclosures that are starting to rise as well and on the other hand for people who are employed theyre moving out to the suburbs theyre buying homes theres been over 100000000000. 00 in cash out refinancings thanks to the feds purchases of Mortgage Backed securities so for the people who are still gainfully employed and active part of the economy theyre doing pretty well and youre right to say narrative needle that chair powell had to thread because he has to talk about the good and yet he has to acknowledge this this high persistently high level of unemployment and the fact that the feds tools dont appear to be capable of reaching this the people who are out of work which is why hes asking congress to help out with passing fresh fiscal stimulus legislation now i know but centrally todays meeting wasnt full of surprises if anything it only demonstrated that the fed is not planning to take its foot off the monetary gas pedal is that a correct assessment. I think it is i think what we heard more than anything else today was more of the same right is not going to change the fed essentially thinks its policies are working overall but at the same time what danielle just said is so absolutely true and its really imperative to this discussion which is that ultimately what the fed is doing does not trickle down necessarily the main street its not helping people who are unemployed right now its not helping businesses businesses and Small Business owners who are struggling mostly it helps wall street mostly it helps banks thats essentially what of the Federal Reserve is doing and so there is a question about how do those policies change obviously its not entirely up to the fed and as she alluded to there congress has a big role to play but the problem with congress is they essentially have shut things down to the point where it looks like theyre not going to be in. Anything until at least the end of the year which is is baffling to me its mind boggling to think that congress is going to say we just cant reach an agreement and so were not going to do anything with it when it is politicians who have instituted the lock downs and the shut downs of businesses and resulted in people losing their jobs people did not lose these jobs on their own this was policies that cause them to lose their jobs policy thats causing these evictions to take place so why is it Congress Stepping in i want to hit on that because as ben just mentioned you know centrally chairman powell he wants congress to stop sitting on the sidelines here hes been calling for a fresh stimulus of the economy which it appears is not going to happen like ben just mentioned at least until the election takes place so can these new forecasts actually be met without congressional and for intervention because as you just said the fed really cant get down to main street thats not their position so much so what are you seeing here. Like im saying to jay powell under tremendous amounts of stress because the fed is going to have a de flay should marry problem on its hands if there is no further stimulus legislation passed its as simple as that just given the numbers and more problematically for him were starting to see white collar layoffs in earnest were talking about some of the biggest spenders in the economy in the past 48 hours weve seen Dell Technology citigroup which actually said that it would lay off people in 2020 which is already it would which came through and backed down on that commitment weve seen raytheon announced 15000 layoffs so these are their big names and its going to start affecting the trajectory of the economy we saw retail sales continue to grow in august but came in much weaker than what economists had been expecting and youre starting to see some of the evidence of the stimulus spending the government transferred dollars coming off of their june peaks you know but i wanted to hit on something mentioned in the 1st question there because the fed actually is pretty happy with this improved. Housing economy it seems is this something we can expect to see even more of or sadly you have to wonder are we heading towards a housing crisis when that boom happens when the economys not that great. Well i think we might be heading towards a housing crisis theres a couple of pretty interesting numbers here one is that home prices are up 13 percent over where they were nationally last year so a year ago with no coronavirus pandemic without people being unemployed the way that they are right now home prices were 30 percent cheaper than they are so thats pretty staggering the other thing is i talked with a couple of Mortgage Specialists today who told me that a lot of the programs that deal with jumbo sized loans have been put on hold during this process but those are coming back and theyre saying within a week or 2 we should expect to start to see jumbo loans being made again which is fairly interesting in this moment but it also we have to go back to the fact that while the fed is still pushing this we have 30000000 people who are unemployed right now across the country 30000000 of them and again the real housing crisis will come in the form of even shouldnt and foreclosures that are on their way remember october was the date went by which a lot of these moratoriums kind of were are going to run out will september was in october will be a lot of these moratoriums so if that happens and once we hit that moment you could have a lot of people either being evicted from their homes or their apartments and landlords who are getting pressure from banks because the banks are saying to the landlords youve got to come up with money so congress again i know im harping on congress but congress has an obligation to get involved and to do something and to help deal with this situation instead of sitting on their hands and say well lets see with what happens in the election this is not a situation that requires an election to fix that is what congress is there for in the 1st place and now do you know quickly before we go i want to get your crystal ball out here because it seems as if Jerome Powell was saying today that this is going to go until 2023 going to continue to see this q. E. Are going to continue to see more hes back. Security help youre also going to continue to see these low Interest Rates until those inflation goals are met so what are you seeing over these next couple of years with the fed. Well i think the fed. Is anticipating because we only saw the core. Inflation metric that the fed follows the most closely is only projected to go up to 1. 7 percent im trying to figure out why we spent the last few weeks talking about inflation running too hot at over 2 percent but the fact of the matter is if we cant find a way to generate true fundamental organic Economic Growth where we dont need response to stimulus spending you can flip a switch one day and have a deficit and debt so high that you get inflation overnight thats a big risk that i dont think is being covered well enough in the media right now former fed insider daniel de martino booth always appreciate it ben swonk cohost of boom bust thank you both for your time. American drug maker says its antibody based cope with 19 treatment appears to have reduced the hospitalization rate for patients recently diagnosed with moderate symptoms from the virus now the Pharmaceutical Company says it held trials using 3 different doses of the drug against a placebo on 450 patients now the trials consisted of 72807000 milligram doses of the drug with the middle dose significantly reducing the presence of covert the other 2 doses did not meet the companys goals on the news eli lilly stock rose 2. 6 percent in premarket but has since leveled out now meanwhile the u. S. Government outlined a plan wednesday to make coronavirus vaccines free to all americans once a candidate has successfully gained Regulatory Approval now in a report provided to Congress FederalHealth Agencies and the department of defense laid out plans for a Vaccination Campaign to start in january of next year or earlier if at all possible now this plan was. To point out that this would not be an overnight affair saying while there may be limited supply of furs the focus will be put on Health Care Workers essential employees and people in boulder big groups so with all this in mind lets go ahead and take another look at the trends and spread of the virus globally with r. T. Correspondent side cabbage or where are we whens it right now were less than 70000 cases away from hitting 30000000. 00 globally now deaths globally theyre close to a 1000000 right now we had 942000. 00 plus now just in the u. S. More than 6800000. 00 confirmed cases while more than 200000 deaths and now according to 2 independent studies more than 550000 children in the u. S. Have so far been diagnosed with a cold 1000 since the beginning of the pandemic i should say now also taking a look at the daily new cases and deaths reported in the u. S. Now the 7 Day Moving Average of daily new cases back on the rise on tuesday with over 39000 cases and also taking a look at the daily deaths on a tuesday there were 1287. 00 reported thats on tuesday now thats almost 3 times as much as the thats reported on monday and tuesday so clearly once again headed into the wrong directions and concerns are also remain about continued increase of cases and deaths in the us in these states right here and arkansas for example they reported a 126 percent increase in deaths from last week these other states have a very similar numbers now so far the biggest outbreaks have been linked to College Parties and restaurants and another big one so far has been weddings and to give you an example you know 7 people. Have recently died in connection to a wedding in maine that was held over the summer which by the way also violated that states gathering guidelines now these 7 people didnt even attend a wedding so you can see this virus really fevers crowds where most people tend to let the guards down and dont keep to social distancing or any kind of masks brant when were looking at the global cases what or where weve seen the trend upward right now so here is a list of the top 5 country with the most new reported cases now there is a there of course the most populated country in the world they added more than 1000000 cases jess this month and were only halfway through the month and theyre expected to become the pen demick worst hit country within just weeks surpassing the u. S. Now while new cases also there are also still soaring and theyre having medical teams right now and theyre in the process of testing tens of thousands of people in poor towns and villages and india but medical experts think that 91000 number that actually number is a lot higher than whats being reported the number 2 is the u. S. Which we obviously spoke about earlier the number 2 right now with newly reported cases then there is brazil now theyre the worlds 3rd largest outbreak behind the u. S. And india and most of the new cases are still coming from Rio De Janeiro and in fact you know if rio there if there were a country their mortality rate would rank as the worlds worst and result of course is heading into the Summer Season so if new measures really arent taken the country really risks a 2nd spike of infections out elsewhere in latin america argentina on that theyre all once again seeing a big spike in new cases and while you know they were actually one of the regions in latin america a Success Story because they had a very strict locked out in march by new cases. Once again soaring and argentina get this their Positivity Rate in the country is 51 percent so 51 percent of people are getting as that is coming back positive to give you a comparison the us which weve had a horrible outbreak our test rate is only 5 percent positive and its not just about infections there are economy plummeting has also pushed millions in argentina below the poverty line now in europe in spain amid madrid region one of the worst hit in the country is planning to announce on this friday new restrictions on the movement that include targeted lockdowns in areas with high couvade 1000. 00 cases again rejected accounts for around one 3rd of active cases in spain and its not just cases but overall deaths in europe that are now approaching 30 at 300000 its expected to get even worse in the upcoming months so while the u. S. Has the worlds highest death toll 6 of the 12 the earliest countries are actually reported to be and youre a brand our correspondents are terribly thank you for keeping us up to date. Im now for a quick break but hang here because when we return called continues its surge amid Uncertain Times straight ahead were going to dive into the metals performance and what the future could hold for the safe haven asset and as we go to break here the numbers that the. Very mechanisms of plasticity that enable stress to get under the skin and to any negative effect on our mind in our body those same very mechanisms can be harnessed for the good to promote resilience to promote flourishing. At the near the city really to show. That. You know the numbers to. Go to see if you. Are doing your force well you could be honest with another spirit. Was emotional 6 put him into. Stagey a clue to the. Social services cliche closely into a place to move is a little just a little story. About what is. Ringback and welcome back the u. S. House Transportation Committee on wednesday issued an investigative report regarding the boeing 737 max crisis now in the report the panel blamed the plane maker in the federal Aviation Administration for repeated and serious failures adding the 2 fatal crashes were quote a horrific culmination of a series of faulty technical assumptions by boeings engineers a lack of transparency in the part on the part of boeings d management and grossly insufficient oversight by the f. A. A. Now the Committee Chairman represented peter de fazio of oregon issued a statement of the zone saying the report shows how boeing under pressure to the complete compete with airbus and deliver profits for wall street escaped scrutiny from the f. A. A. Withheld critical information from pilots and ultimately put planes into service that killed 346 innocent people boeings for its part issued a statement responding to the report saying we have learned many hard lessons as a company from the accidents of lion air flight 610 and Ethiopian Airlines flight 302 and from the mistakes we have made as this report recognizes we have made fundamental changes to our company as a result and continue to look for ways to improve. And as that continues to justify the current pace of its ongoing and endless q. E. The market is not surprised and is happily gobbling up that extra liquidity besson p. And our popping to session highs after the fed statement as investors are reassured of the prospect of years of Lower Borrowing costs joining us now to disk. Yes our boom bust cohost christiane and peter schiff c. E. O. Of Euro Pacific Capital peter i want to start with you i know this is the red meat for peter schiff gold prices headed for a 3rd straight ahead of that fed policy statement and now theyre probably up there what is the long term potential for Precious Metals given the current macro backdrop not just for gold also as silver which is also rallying. Well certainly the prospects for the Precious Metals are very bright but you know the prospects for a lot of prices to move up unfortunately are not good to Federal Reserve is creating a tremendous amount of inflation it claims that its goal is for the cost of living to rise at a more rapid pace than it has in the past he claims that we need to make up for the cost of living rising too slowly in the past by making sure it rises more rapidly in the future but i think really what is trying to do is provide cover to maintain the asset bubbles that he denies exist you know even as were doing this snowflake i. P. O. Today powell was telling the reporters that there is no bubble that theres no bubbles in Financial Assets and that all these artificially low Interest Rates and q. E. Have not resulted in bubbles but of course thats exactly what weve been living in and i think powell knows that because every time the air starts coming out the fed does all it can to blow it back in but as long as theyre doing that the price of gold is going much much higher and thats a reflection of the value of the dollar going much much lower and kristie bitcoin prices have broke at 11000. 00 again in preparation for another run up after falling back to its 10000. 00 support but is it too early to expect another significant rally in bitcoin. Well we have about 2 weeks of pretty low volatility right now as the cut the market remained stagnant so unlike previous rallies which we saw anything need the bitcoin surge only been going to move higher this time whereas all the other crypto can all point to fill in the red. Tokens which had outperformed that point throughout all of us they have been underperforming the past several days so the big win is kind of rallying on its own the past 3 days accompanied by megafun all right so the news funding rates show that traders are continuing to short decline right now which suggests that this uptrend is on shorts being squeezed so the other half of it is that profits from there and other the buy tokens are now being cycled into that quine beating to increases in prices so there is a bit of a rotation taking place at this point between the assets in price which had been running on full steam for the last 6 months thats starting to look a little cooked at this point so i wouldnt expect this rally to be significant until we get some more along in that. Peter oil is actually recovering after optimists data came out of china showing that Industrial Production expanded more than it initially expected but in order to have stability we need industrial demand to kick it and as well so will we see a recovery pan out or is this just temporary blip on the back of Hurricane Sally which is also causing problems in the gulf. Well were going to have a recovery in the place of oil thats for sure were not going to have a recovery in the u. S. Economy were going to remain in in a depression but oil prices are going up i mean the initial impact of the demand shock from covert 19 resulted in a big drop in oil prices but as the fed and other Central Banks continue to stoke demand by printing more money as oil output responds to reduce demand with reduced supply coming from less production ultimately were going to see much much Higher Oil Prices as i said earlier the price of everything is going up because the value of the dollar the money that people are using to buy things is going down so. Everybody is going to do a lot more dollars to buy the stuff that they need and that along with opec plus cuts of course are driving oil prices up as well kristie finally want to hit on this in something peter actually mentioned earlier the snowflake i. P. O. Where shares more d than doubled in its market debut on wednesday in the largest ever software i. P. O. Whats the latest with that. So the list price 120. 00 oz which is higher than is that initial range of only 75. 00 to 85. 00 unity some extreme oversubscription and then it went on 5 big rollercoaster ride all day to more than doubling hitting a high of 21000. 00 before then in raising all the post up again back down to 245. 00 so at that point no phrase was worth more than 60000000000. 00 in market cap an opening price of 2. 00 which is more than 5 times its 12400000000. 00 valuation just back in february so for the sake of comparison that means its worth more than v. M. Ware bigger than fedex and c. M. E. Group so obviously theres a lot of pent up demand for i. P. O. s as this was the 1st of several Tech Companies to go public this week out of the Global Pandemic kind of put everything on the pod but as peter said a lot of it is excitement over enthusiasm among investors and a lot of it is attributed to hype because this company is only 5 years old and this is now a record setting i. P. O. But we saw the price action just our way this morning already that there are a lot of neat hands in the same writing it for a quick flip making it very bubble ish and i feel like we dont worry theres theres no bubble. Business dollars theres nothing to worry about no bubbles to be seen here no attention to whats going on with with. Another everything you have. Both goes crissy eyes are we are out of both. And finally the folks the air b. N. B. Are offering a unique stay for residents of Los Angeles County superstar will smith announced on his Instagram Account sunday that the house from its flagship ninetys Television Program the fresh prince of belair will be made available for rent on the app in late september residents of the area will have the opportunity to book and stay in the home for a group of 2 for the price of just 30 dollars now the one night booking gives the renter access to the wing where the character stayed the pool area and a dining room now the bedroom includes a basketball hoop access to will smiths wardrobe a staple of the character as well as act as well as a virtual welcome by d. J. Jazzy jeff now that marks the 30th anniversary of the show in air b. N. B. Will make a one time donation to the boys and girls club of philadelphia as part of the promotion air b. N. B. Is offered similar promotions in the past including a stay at barbies malibu dream house and the chance to spend a night in the countrys last Blockbuster Video store and thats it for this time just about on demand on the brand new portable t. V. App as available on smartphones and tablets that. When else seems wrong. Just dont. Get to see it just because thats it. And if. It wants to trade. On something you find themselves well its a part we just of thats a common ground. Oh it was a. Split. Last time we chased. Each one of them carrying 20 kilos d of drugs. First offense to. Leave just the boy. Is the main thing oh my little boy they have this is the this is for me. I like it well i dont know maybe they dont make or. Break. Down well. Join me every thursday on the elec so im unsure when ill be speaking to us of the world of politics. Im sure ill see you then. Pressure calls on germany to stop listeners finding the alleged poisoning of opposition figurehead lxi no founding pullin insists its up to mosco to clarify how mr replace nerve agent was reported to be used on russian soil. With corona virus cases filtering in britain the countrys testing system is said to be a breaking point so. The american president ial hopeful joe biden fails to recall the country he in. Mostly help just in the military and so you. Dont see. Us troops die in a room in afghanistan whereas other headlines this hour the international kevin and i went in and out with a morning run down pretty fast