It is just coming in right now. The federal reserve announced half a point. That was not the most expected. 48 days to the election, great news for the economy. Critics said it could not happen, but our policies a little policies are lowering costs and creating jobs. As a republican nominee plans to raise your grocery prices. How can a family of four that, like cheerios? i haven t seen cheerios in a long time. And nancy pelosi on the state of the race and the maga threats in the house. And growing calls for center in the senate as a hate crime hearing flies off the rails. You do not support hamas. I oppose you should hide your head in a bag. When all in starts right now. Good evening from new york. I am chris hayes. We are so back. This afternoon federal reserve chair jerome powell took the stage to announce the feds first cut in interest rates since 2020 and the beginning of the pandemic recession and it was a big one. A half percent interest rate reduction to stimulate borrowing and
The biggest global coordinated effort since 2018 to save the Global Economy from the coronavirus. Were seeing it react pretty dramatically in the Commodity Prices right now. Look at the dow, were back up 766 points. Crude is up over 5 . Gold got smashed last week on margin calls, it is coming up 30 inhouse. That is pretty incredible run after a big blowout last week. The reason theyre buying gold, if all Central Banks start easing policy, gold might be a safe haven play t wasnt a safe haven play when we were worried about global recession but those odds seem to be going down as Global Central Bank starts to take action. Interestingly enough, last week commodities really got crushed. Grain prices, cattle prices, food prices across the globe, worried that people wouldnt have a lot of money to pie a lot of food. Those prices are coming back. Really a mood change from Opening Sunday night. We got more bad news from the coronavirus and more bad news thing is getting out of control, we open
Virtually all subpoena 500 sectors are down. S p 500 sectors. Thisjackie deangelis is here wat breakdown. Reporter good afternoon, neil. October has gotten off to a rocky start i would say. The fundamentals of the u. S. Economy had been holding up but the data is signaling that there are some cracks there. Today es nonism manufacturing number is important, showing slowing growth in the Services Sector. Reading of 52. 6 is down from 53. 4 in august. Fed cutting Interest Rates, reacting sharply, forecasting another quarterpoint move lower at the fomc meeting at the end of the month. The number is essentially neutral but it indicates sloyer growth here. We earlier saw a slip in manufacturing as well. You combine two of those things there is definitely a red flag. Meantime bed, bath beyond, increasing number of stores it is planning to close. In april it said it would close 40 stores. Now that number bumped up to 60. Retailing in general, 4600 store closures for the year announced by u. S.
All right. If we can get our seats. Its kind of hard to break off the conversations. Its always so good to meet people. But weve got to get back to work. We hear a lot about how dangerous the u. S. Empire is. We learn about how were making enemies overseas. We learn about how immoral it is to bomb people overseas, but theres something that we also really need to, and this is a good argument to make by some people who arent swayed by the others and that is that the u. S. Empire is a big ripoff. It costs a lot of money and gives us very, very little in return and so thats why were really pleased to bring in someone who can speak to you, been reading and wright and lecturing for a while now and hes part of the next generation of intellectuals. He spoke yesterday at our student seminar and did a terrific job, and thats Nathan Goodman who is finishing his phd at George Mason University in economics, and he is a specialist in the economic of empire. Nathan, happy to have you join us. [ appla
What rick sanchez had to say about the media and i think he is right for sure. I do think however that as far as the Mainstream Media goes, probably the best thing going out there is Tucker Carlson on fox news who at t brings up the issue of, are you insane . You want to invade iran . Not perfect by any stretch but at least there is one voice. And often when you switch on that show, youll see a military man standing up and saying, are you crazy . And i think, and i hope, and we should all pray that the err of the president is to finely tuned to fox news when that individual is speaking, because he speaks the truth as someone who has been there and done that. Thats whats so important. He walks the walk, he talks the talk. Im very, very proud for over two years in a row and im sorry, but he is so terrific. Colonel douglas mcgregor. [ applause ] thank you very much. First of all, i really want to express my gratitude to the man who is the reason for us being here today. This man of charac