Five officials believe the federal fun rate should be at same rate. Five would like to see the rate at level it was before this meeting today. Now the Federal Reserve raises the gdp forecast to 2. 2 this year. Also see the Unemployment Rate nudging up to 3. 7 by the end of the year. Core inflation they do believe stays the sail at 1. 8 by the end. Year. In the statement everything was basically the same there except they added the fixed Business Investment and exports have weakened, changing from soft, Federal Reserve says they will act as appropriate to stay in expansion. Now on the shortterm funding costs that you were talking about, charles, the Federal Reserve lowered interest on excess reserves. Lowered interest on excess reserves by 30 basis points. The Federal Reserve sets it 20 basis point under the top range of the federal funds rate. They will continue the overnight repo operations to stablize the federal funds rate. They set the rate on the overnight repos five points under
Between democrats, republicans, and independents. 202 7488000 for democrats. 202 7488001 for republicans. If you are an independent, 202 7488002. You can join us on social media 3,d text us at 202 748800 at twitter on cspanwj were at facebook on facebook. Com cspan. About, including whether you think we should begin with military action in iran. We will get to your calls in a moment. Heres the latest from the wall street journal. The yemeni rebels warning another strike soon. Some of the details from the wall street journal. Houthi militants have warned that iran is preparing a followup strike to the attack that crippled saudi arabias will industry peer leaders say they were raising the alarm about a possible new attack after they were pressed by iran. That is from the wall street journal. The Washington Post has this editorial. Step back from the brink President Trumps best way forward with saudi arabia and iran is to deescalate. The full editorial is available at wsj. Com. [video cli
International pressure and deploys his military to fight the fires. Well have the latest on what some are calling ecocide. Is it the first death caused by vaping . Well look at the case of an adult whose illness matches the recent outbreak of severe lung disease and those who use ecigarettes. And in our continuing series who we are, we go back two years to Hurricane Harvey and meet the 26yearold and the young volunteers who are rebuilding homes and restoring lives. But first we begin this morning with a look at todays eye opener, your world in 90 seconds. Seeing a lot of the leaders who are friends of mine for the most part. Wouldnt say its 100 of the case, but forthe most part. President trump arrives for the g7 sum milt. Apparently not a fan of these gettogethers. President trump is not one to back down and the leaders here are not Strong Enough to challenge him. It started out as a stand your ground trial, a jury found Michael Drejka guilty of manslaughter. This man is a vigilante.
Of to a good start on this tuesday. Negative atead is 1. 51 . Apparently Phillip Morris and ultra are going to try to get back together and altria are going to try to get back together. Phillip morris is down. Europe, a nice bounce with the stoxx 600 up 6 10 of 1 . The ftse maybe the best ib themer the ftse m best performer for individual indices. Weaker by 6 10nd of 1 . In a Bloomberg Opinion piece today, former new york fed president bill dudley calling President Trumps trade war with china a manufactured disaster in the making. The question for policymakers is e policy mitigate the damage or refuse to play along . Increasing the risk of a stateion, officials could officially that the central bank wont bail out an administration that keeps making bad decisions on trade policy, making it abundantly clear that trump will own the consequent is of his actions. We are joined by Michael Mckee, and it washington, d. C. Come a trade reporter shawn donnan. Michael, this is a very interesting
Why they will not do it. Bill dudley has an understandable position. Most of the people in jackson hole are muted. The World Economy is going to a slump and the u. S. May be slowing down as well because of the president straight all of these. The fed is not going to get involved in the politics of making trait decisions. Jay powell on saturday on friday said setting trade policy is the business of congress and the administration, not the fed. Our assignment is to use Monetary Policy to foster our statutory goals, which are maximum employment and stable prices. Kevin despite all of the political snafus around the central bank, confidence declined less than forecast. We are getting new numbers that would suggest consumers are not feeling the recession fears as much as we anticipated. Michael certainly not as much as wall street. What may have happened is companies stopped up a lot ahead of the tariffs imposed and we see that in the inventory numbers. As though start to work down, prices