are saying they want a december rate hike as well. before the meeting. shepard: china backed off last night. do we know why? the saying that parents will sometimes say, it s going to hurt me more than you are whatever the case may be. china is a position where i can make this kind of currency move and it helps on the export side but of the same time, they re going to be places where it falls into trouble when the currency is so weak. for example, servicing debt, bringing its purchasing power and buying power debt. china and the central bank is very well aware that it s got to dance on a very fine line here and find the balance. it s about them just as much as it is about us. shepard: jackie deangelis. will watch the markets in the final hour. thank you. a bullet fired from an ar-15 rifle can do a lot more damage than one from a handgun. it can shred muscles and shatter bones and turn organs into pulp.
[laughter] this has come up again and again that maybe the federal reserve is looking to get back to normal, whatever that is, and because rates even with the uptick we have seen we are still half where they should be, i m told. to double them where they are now i mean, that will not go down well. it seems to me the fed and jay powell is blindsided by trying to normalize rates and get back to the neutral rate environment so let s say we have a december rate hike and they move in this lockstep which could be dangerous for the economy and dangerous for companies and forward guidance which boost their stock prices that could be dangerous if they re committed to not keeping everything on the table looking at the data which is getting back to the normalization and that would be one critique. i do think there s a firewall the president is critical of the fed but has not spoken to jay powell which shows there is independence. neil: i will point a finger at
yeah. congress has always done that. larry? yeah. exactly. congress has always done that. the danger right now, we have a december rate hike priced in. if we don t get the inflation needed, which we re not, policy rates will be higher than what they are. so we ll have a lot of questions. you know, even the president can t fight the fed. neil: is there a danger with putting him on the spot? no matter what they do now, they re going to look, they eased up on hiking because they re afraid or they went aggressively because they this is neil, this is a completely independent fed. what i would say, look at the g-20 next month. the president is meeting with the chinese premier. that will be key for going forward. i bet china has concessions on tried and we avoid this war. yes. thanks very much, guys. i apologize for the
this round of tariffs could eventually hurt company profits. stores like target, walmart now face a tough choice. they can either absorb the higher costs or they can pass it on to their customers and if their profits suffer, so will stock prices. higher interest rates are also a stock market risk. we expect an interest rate hike on wednesday from the federal reserve. what the fed does after that is more uncertain. most economists are still betting on a december rate hike but some think the central bank could skip that one if there s evidence that trade war is starting to hurt the economy. in new york, i m christine romans. a long drawn out recovery effort is beginning in the carolinas even as flood waters are still rising in some communities. kaylee is in wilmington with the kay january navy. kaylee, tell us about what you guys are doing. reporter: ana, we made our way up the cape fear river. our boat now in waters on top of roads in white stocking, north
moneystream this morning. global stocks higher as investors wait on one very important thing. u.s. tax reform. president trump unveiling the details of his tax plan today. expect the business rate cut to 20%. that could potentially boost corporate profits. wall street closed flat after a hint at a december rate hike. the dow now down about four days in a row. equifix ceo may be out but he still has to testify about equifax s huge data breach and its botched response. the company announced smith s sudden retirement yesterday, just three weeks after disclosing a hack that affects 143 million americans. equifax faces a federal investigation. smith is set to testify on capitol hill next week. smith walks away without a bonus this year but he could eventually receive $90 million in salary and stocks. $90 million is equivalent to 63 cents for every american exposed in that breach.