In cutting the cost of borrowing for the first time in overfour years. The Federal Reserve have dropped the main Interest Rate in the worlds biggest economy by half a percentage point, bringing it down to between 4. 75 and 5 . A drop larger than many expected, with some wondering now if this reflects the scale of the problems facing the american economy or the success in getting the pace of price rises, inflation, close to the banks targets. The governor of the fed, Jerome Powell says the us economy is in good shape and they intend to keep it that way. Our North America Business correspondent Ritika Gupta has the details. The Federal Reserve has delivered a super sized Interest Rate cut aimed at bolstering the us Labour Market. The 0. 5 percentage cut, the first in over four years, brings its key Interest Rate, the federal funds rate, down to between 4. 75 and 5 . It comes amid Signs Inflation in america is continuing to fall, while the Job Market remains strong, even as unemployment h
Recovery. I believe it is important for the country to recognise this progress because if we do not, progress made will remain locked in the fear of negative mindsets that dominate or economic outlook since the pandemic began. Investors have cheered the cut, the Dowjones Industrial The Dow Jones Industrial Average the Dowjones Industrial Average 500 rising to a new all time high. More from new york. Record high, a day after the Federal Reserve kicked off its easing cycle. The 500 Euros i. 7 easing cycle. The 500 Euros 1. 7 and extending this years gains 20 meanwhile, 500 points topping 42,000 For The First Time and the majority of Industry Groups close of the session higher and sharing outperformed as the Rate Cuts spurred investors to attend to a risk on Mood And Tesla gained 4 and more than 7 respectively in stocks traditionally tied to this also jumped in the giant industrial Home Depot also gains and better than expected to data adding to the optimism suggesting the Labour Market r
the price of oil on international markets is not high enough for them. oil and energy leaders are gathering again today in vienna for the latest opec summit. the biggest and most powerful player saudi arabia started this week with the news it s extending its voluntary output cut of1 million barrels per day to august. russia is making a similar move. but these cuts are failing to boost energy prices. why? jonathan robinsonjoins me now to explain he is global power & energy research director at frost and sullivan. just talk us through our oil is at the moment. just talk us through our oil is at the moment. oil, despite the cuts in production, at the moment. oil, despite the cuts in production, oil at the moment. oil, despite the cuts in production, oil prices- cuts in production, oil prices have stayed relatively low in what we have seen historically in the past year, 1.5 years. there are a few specific reasons for that. chinese demand, industrial out would, increasing
deal this is? why would biden say what a good deal is before a vote? you think that ll help you get past? no. a vote? you think that ll help you get past? no. katrina els told me earlier you get past? no. katrina els told me earlier that you get past? no. katrina els told me earlier that investorsi told me earlier that investors around the world are welcoming the news. 50 around the world are welcoming the news. ~ around the world are welcoming the news. ~ , the news. so i think we ve seen a collective the news. so i think we ve seen a collective sigh the news. so i think we ve seen a collective sigh of the news. so i think we ve seen a collective sigh of relief- a collective sigh of relief coming from international markets as a result of this tentative deal breaking. i think it really cements the fact that we will avoid that more collaborative situation of a us default which would have been absolutely awful for the us economy, but also for really increasing a
it s coming down to one thing. this has been about spending. the democrats have never wanted to stop the amount of spending that they do. they want to keep adding and adding and adding. i do not think it s right that you borrow money from china to pay people to stay home that are able-bodied with no dependents on the couch. this hour, a new washington post reporting ties donald trump to the movement of classified documents the day before a scheduled visit to mar-a-lago by the fbi. is the special counsel s investigation closing in? a former star football coach, alabama senator tommy tuberville blocking 300 military appointments. good day, everyone. i m andrea mitchell in washington. nonstop talks reported are moving negotiators closer to a deal, but they are not there yet. time is not on their side. joining me now, kelly o donnell and garrett haake, who have been going back and forth on all the details. garrett, to you. the speaker just spoke. congressman mchenry and