Federal reserve has lowered its benchmark Interest Rate for a 2nd time this year the Central Bank Hopes the quarter percentage point cut will help cushion the u. S. Economy against a global slowdown worsened by the u. S. China trade war the move could help strengthen business fixed investment and exports which the fed says have weakened the u. S. Central bank has also faced intense pressure from President Donald Trump to cut rates and with washingtons ongoing trade war with beijing. And for more on the subject we are now joined by the w. s financial correspondent on wall street who said we stay out officer resets good to see you and the markets briefly went down on this announcement why when a rate cut was so highly anticipated by investors. I would say happier because of the division inside of the Federal Reserve own wanted to do next it is important to highlight that to both the members of the boeing c. Did not support the rate cut as the top into in july well and although wanted an
Where is home. With their family scattered across the globe. Looking. To. Turn back to the roots to gather minutely. The shards family from somalia live around the world. Want to come to me to urgent assistance to. The family starts october on d w. The u. S. Federal reserve has no surprises for investors it cut Interest Rates as expected but left them guessing its further steps later this year the lack of clear signs also upset President Donald Trump will have the details. Also on the show the federation of german industry speaks up against a hard break said and urges london to stop what it calls disturbing politics. For business on the w. I am here yet i guess its good to have you with us they u. S. Federal reserve has lowered its benchmark Interest Rate for a 2nd time this year the Central Bank Hopes the quarter percentage point cut will help cushion the u. S. Economy against a global slowdown worsened by the u. S. China trade. War the move could help strengthen business fixed invest
Observed to show that you know most people on bloomberg and c. And b. C. Will tell you we want lower Interest Rates this is great for the ordinary american right most americans live paycheck to paycheck no matter how much you earn getting by is still a struggle for most people these days 78 percent of full time workers said they live paycheck to paycheck from 75 percent last year according to a recent report from Career Builder overall 71 percent of all u. S. Workers said they are now in debt up from 68 percent a year ago so you see debt piles are climbing. Of course this is what the fed wants with the lowering rates they want the ordinary american to cripple themselves with debt to make themselves have fewer choices in life because youve got to get that paycheck to meet the minimum payment on your Credit Card Debt right so 40 years ago the. Transition from industrialization to financialization so people had jobs and the economy reflected a workforce that would earn discretionary capit
Is something you are trying to achieve . Carrie first of all, in very clear and strong terms, i have to refute the second point. Still verym disappointed that my remarks in a totally private, exclusive session, which is a lunch, actually, which clearly is subject to checks on house roles rules, had been recorded and then passed to the media. I think this is quite unacceptable, ok . So, to further suggest that myself or the government have any role to play in this thing is absolutely unfounded. So, that oinp point has to be made extremely clear. On the first point about resignation, i said on several occasions previously and also reaffirmed by my colleagues and the chief executives office, in response to media inquiries, that throughout this period, from the very beginning until now, i have never, i have never tendered her resignation to the central peoples government. I have not even contemplated to discuss a resignation with the central peoples government. The choice of not resigning
Language that he has used before, said the fed is not forecasting recession, which they would never do, so the fact that he stayed away from that was a good thing. And the act as appropriate line he has used many times. You have to think there is a drinking game on wall street every time he says that. If there was anything newsworthy , to an extent, it was hearing from him directly that politics does not play any role in their decisionmaking. When the question was put to him about bill dudleys oped last week, the fed distance itself as an institution from those remarks but jay powell made it clear that neither he or says colleagues Pay Attention to politics. He says people of both parties, they know their decisions are important to the lives of americans, and they will do the best job they can. He is very firm on that point. And come he at the was asked how you managed to tune out a president s tweets, and he says we are focused on our jobs, we dont get involved in other things. Let me