Reporter through 2022 the Federal Reserve keeping rates near the zero mark. Gdp growth for the fed shows a loss of 6 1 2 this year but bouncing back 5 1 2 growth for inflation. Fed predicts inflation under 1 1 2 for the year 2020. Not reaching 2 target goal for the end of 2022. For the Federal Reserve, federal federal funds rate going nowhere. Listen. Were not thinking about raising rates. Were not even thinking about thinking about raising rates. Were providing for the r support for the economy. We think this will take time. Reporter Federal Reserve chairman Jerome Powell says their goal is to get back to the record low unemployment, and inflation back to the 2 target line. They hinted they may let the economy run hot to reach those goals. He says record drop in Second Quarter growth but a bounceback towards the end of the year on unemployment. He says we may have seen the bottom. Listen. The labor market may have hit bottom in may. We dont know that. Were going to see. And you know,
Drop coming up on todays show, were taking a look at how a number of Different Industries are getting back to work in america. Well talk hotels and travel with the ceo of best western plus, walter rob, the former coceo of whole foods will weigh in on grocery trends and well talk about the state of the consumer lets kick things off with a Broader Market a choppy day to kick off the trading week pretty positive. Right near the session highs as we stand on track for a record close for the nasdaq composite actually kind of a quiet levitation out there the average stock not doing much of anything. Volumes are low. But v but the Growth Stocks are powering higher. You see a one year of the s p 500. Its about a couple weeks ago that the enthusiasm for that reopening really seemed to crest for a little while since then, the old Growth Stocks, if you look at the top of the dow right now, its nike, apple, walmart, visa, microsoft. These are the days when the observation that Great Companies remai
14 points. What is going on here . First of all, there are clear signs the lockdown is ending and the economy is expanding. Theres been a big jump in Mortgage Applications and a surprisingly small drop in private sector jobs in may. We are going to check the other indicators for you. They proiare pointing towards growth. June appears to be the turning point. As for urban unrest, look, its very hard to be positive when you see razor wire around saks fifth avenue in new york city. Overall, violence was down last night. Peaceful protesters were out in force and that, in my mind, is a very good thing. Green shoots, something positive this wednesday, june 3rd. Varney company is about to begin. Stuart i think the story of the morning has to be calm. Protesters turned out across the country last night, some defying curfew orders in major cities, new york and d. C. , but it was by and large a calm night. A welcome contrast to the past few nights of mayhem and looting. Now, the night was not fr
We continue to send our prayers to the people of new york and new jersey and to our whole country. New york and new jersey are very hot zones and we are with them and we are with everybody. Your struggle is our struggle and we will beat this virus. We will beat it together. I want to send best wishes to a very good friend of mine and affront to our nation, Prime Minister and a friend to our nation, Prime Minister Boris Johnson. He was taken into intensive care this afternoon. Hisicans are praying for recovery. He has been a really good friend, something very special. Strong, resolute, does not quit, does not give up. We have made tremendous progress on therapeutics. I had a fantastic call today. I have asked two of the leading companies, these are brilliant aids, others,la, they have come with the solutions and have done incredible jobs and i have asked them to Contact London immediately. They have offices in london. I had a talk with four of them today. They speak a language most peop
Welcome we begin with breaking news u. S. Senator Bernie Sanders has ended his bid for the democratic partys nomination in the president ial election his announcement clears the way for his rival joe biden to challenge President Donald Trump 78 years old. In the early primaries but later fell behind biden who has been a substantial lead in the race for delegates. I wish i could give you better news but i think you know the truth and that is that we are now as the 300 delegates behind Vice President biden and the pain of Court Victory is virtually impossible so while we are winning the ideological battle and while we are winning this award so many young people and working people throughout the country i have concluded this for the democratic nomination will not be successful and so today i am announcing with the spread of my campaign lets bring in our correspondent in washington stefan Simone Stefan how surprising is sundays decision. Not really surprising actually everybody had the bet