Us treasury secretary janet yellen called the downgrade arbitrary and said Economic Conditions had improved under the biden administration. The news of the downgrade came after the close of trade on wall street but in asia investors have been pulling out of equities in reaction. Lets look at markets now in asia. Japan is currently down by over 2 . Hong kong not that far behind. This was off the back of yesterday, and most of this week we have seen the sharemarket, certainly wall street and asia having a strong session but this is certainly spooked sentiment. Lets discuss this with tom stevenson, whos an Investment Director at fidelity. Good morning. Janet woody allen saying this is arbitrary. I have her statement janet yellen and she said she strongly disagrees and says it is based on outdated data. That is based on outdated data. That is riuht. Is based on outdated data. That is right it is based on outdated data. That is right. It seems is based on outdated data. That is right. It s
top story that being fitches downgraded the us credit rating from triple a two double a class and you can see markets, this is impact on trade in asia and likely to be felt on wall street as the day progresses around the world. that is all for me from now, i will see you very soon. wet and windy weather on the way for wednesday. more on that in a second. but first of all, we start off with the news that for northern ireland, we ve had the wettestjuly on record, with over double the averagejuly rainfall. those records go back to 1836. it was also the wettestjuly on record for greater manchester, merseyside and lancashire as well. now, we ve got more rain to come through wednesday. this area of low pressure continues to strengthen and we re going to see a swathe of particularly strong winds just running to the south of this hook of cloud you can see just here. now, that is going to be working into the south west of the uk, but already those winds are picking up across
problem. it s a problem that has to be solved. title 42 which ed just reported on and other fixes like that are band-aids. what we need, jim, is for congress to sit down and do the hard work of fixing the immigration system. it s something that american public is demanding. so let s talk about the fitches. you fixes. you don t have any sufficient political will in either party to do it. what would it take to, for one, accelerate the time lines? some folks that applied for asylum and because there are so many of them and not enough judges and courtrooms, right, to adjudicate, they wait months, years to have the cases heard and are waiting in the u.s. in many cases while they re waiting for that decision. that goes with fixing the stum. there have been bills in congress. i think most recently in 2013 and you mention the courtrooms and how long it takes to get