Pricebased, run your game. Im Bill Weir on the California Coast and this is cnn closed captioning brought to you by mesobook. Com if you, or a Loved One have mesothelial not well send you a free book to answer questions you may have call now and well come to you 800 a31, 3,700 now, Sean Diddy combs is expected back in in court to appeal his Bail Denial. His attorneys trying to prevent him from spending another night in a Detention Centre that they described as having horrific conditions and after four long years, the fed makes an aggressive rate cut a milestone in its, in its fight against inflation. What this all means for everything from Credit Card Debt to the Housing Market and from exploding pagers to detonating Walkie Talkies, the Death Toll is climbing as a fresh wave of detonate a devices break out across lebanon were going to take you there live as we follow these major developing stories and many more all coming in right here to cnn News Central Hour Sean Diddy combs is going
Am not talking about the Federal Reserve, i am talking with the Teamsters Union saying it will not Make An endorsement in the president ial race. Exactly why, we will ask Sean Obrien in an exclusive chat moments away. First, the Fed Cutting Interest Rates by half a point, the first Rate Cut we have seen now in more than 54 years, stocks bouncing around on the news, originally up more than 400 points, down A Hundred points after consumers with lower borrowing costs. It goes to have an impact on the upcoming president ial race and we are on top of all of it. Welcome everybody, on neil cavuto, first of the fed, that surprising cut, not that it was a cut but it was a big one. Kelly ogrady has more. That is why, that were definitely borrowed money today, the temperature coming out of today is that the fed if he was confident enough about its 2 Inflation Target but clearly wants to ensure the Labor Market is not cool off anymore. 50 Basis Points is a big deal especially because Jay Powell ha
stashed at his retirement home in mar-a-lago. a federal appeals court, just before we went to air, just ruled in favor of the justice department. the justice department can have access to roughly 100 highly sensitive classified documents that were taken from mar-a-lago. immediately we saw the appeals court issue this ruling. i was stunned to see it come out so quickly. it s worth taking a step back and recognizing just how extraordinary this moment, this day is. it was almost easy to forget that trump had never actually been indicted. never been sued, you know, by the state entity or anything like that, but today, things look different. that is where we pick things up this morning, on top of the legal setbacks from donald trump comes news from the january 6th committee that the wife of supreme court justice, ginni thomas has agreed to meet with the committee about her efforts to overturn the 2020 election. good morning, welcome to morning joe, it s thursday, joe and m
this is your well red world. a lot of major averages down on the prospect that we re looking at higher rates down the road. we got our third 3/4 hike in a row with signs that year s end, rates could be a point to a point 1/4 higher than they are right now. we re north of 4%. some wondering if that is enough to deal with inflation that is double that. let s get the read on what happens today and why. jackie deangelis. jackie? good afternoon. this is the fed s fifth rate increase this year. it s the fourth increase in a row. as you pointed out, the third time the market is seeing 3/4 percentage point. the market was trading higher most of the session before the decision indicating they were expecting a 75 basis point hike rather than the full point percentage point that a small group of market watchers thought was possible. then when the news broke about the hike, the fed hikes rates trying to tame persistently high inflation, the economy will slow. consumers and corporations
5. 25 . Susanna streeter is a friend of the bbc and is waiting in the wings. I saw you react as soon as that announcement came up. Your reaction, please . Reaction, please . Yes, finally the Bank Of England reaction, please . Yes, finally the Bank Of England has reaction, please . Yes, finally the Bank Of England has pressed reaction, please . Yes, finally the Bank Of England has pressed the | reaction, please . Yes, finally the i Bank Of England has pressed the big red pause button on Interest Rate hikes and this will be a big relief for those consumers and those companies who have been really struggling with higher Borrowing Costs. And it is clear that that the drop in inflation in the year to august and also that caught rate of inflation, stripping out volatile food and fuel prices, really did come as a surprise because they voted with the majority of 5 4 to maintain the bank rate and to keep rates on hold. Whereas if you look at the last time they had to make this decision, only on